Capital Advisors Wealth Management LLC Boosts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

by · The Cerbat Gem

Capital Advisors Wealth Management LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,320 shares of the company’s stock after purchasing an additional 1,019 shares during the quarter. Capital Advisors Wealth Management LLC’s holdings in Palantir Technologies were worth $1,715,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PLTR. Norges Bank acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its position in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Finally, Capital World Investors purchased a new stake in Palantir Technologies during the 4th quarter worth $253,816,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. DA Davidson boosted their price objective on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Citigroup raised their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Mizuho upped their price target on Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a report on Wednesday, June 11th. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Finally, Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $89.32.

Get Our Latest Stock Analysis on Palantir Technologies

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following 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 legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $130.74 on Friday. The firm has a fifty day moving average of $125.24 and a two-hundred day moving average of $99.62. The firm has a market cap of $308.53 billion, a P/E ratio of 568.43, a P/E/G ratio of 11.16 and a beta of 2.64. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22.

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

About Palantir Technologies

(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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