Clay Northam Wealth Management LLC Purchases 1,528 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

by · The Cerbat Gem

Clay Northam Wealth Management LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 14.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 11,932 shares of the company’s stock after buying an additional 1,528 shares during the quarter. Palantir Technologies comprises approximately 0.7% of Clay Northam Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position. Clay Northam Wealth Management LLC’s holdings in Palantir Technologies were worth $1,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Continuum Advisory LLC lifted its stake in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after purchasing an additional 98 shares in the last quarter. Heritage Wealth Management Inc. CA lifted its stake in Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after purchasing an additional 111 shares in the last quarter. True Wealth Design LLC lifted its stake in Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Gemmer Asset Management LLC lifted its stake in Palantir Technologies by 1.6% in the 1st quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company’s stock worth $639,000 after purchasing an additional 119 shares in the last quarter. Finally, Synergy Asset Management LLC lifted its stake in Palantir Technologies by 1.7% in the 1st quarter. Synergy Asset Management LLC now owns 7,017 shares of the company’s stock worth $592,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 9.4%

NASDAQ:PLTR opened at $130.74 on Friday. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22. The firm has a 50 day moving average of $125.24 and a 200 day moving average of $99.62. The stock has a market capitalization of $308.53 billion, a price-to-earnings ratio of 568.43, a PEG ratio of 11.16 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the business posted $0.08 EPS. Palantir Technologies’s revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the firm’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares of the company’s stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now directly owns 403,171 shares of the company’s stock, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Mizuho boosted their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 11th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a “buy” rating in a research note on Thursday, June 12th. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $89.32.

View Our Latest Research Report on Palantir Technologies

Palantir Technologies Profile

(Free Report)

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.

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