Mascagni Wealth Management Inc. Buys 16,560 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

by · The Markets Daily

Mascagni Wealth Management Inc. grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 155.5% in the 1st quarter, HoldingsChannel reports. The firm owned 27,209 shares of the company’s stock after acquiring an additional 16,560 shares during the quarter. Palantir Technologies makes up about 2.2% of Mascagni Wealth Management Inc.’s portfolio, making the stock its 8th biggest position. Mascagni Wealth Management Inc.’s holdings in Palantir Technologies were worth $2,296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company’s stock valued at $4,191,000 after purchasing an additional 6,479 shares in the last quarter. Pitcairn Co. acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $281,000. Sagespring Wealth Partners LLC boosted its holdings in shares of Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company’s stock worth $2,030,000 after purchasing an additional 6,405 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $52,033,000. Finally, CX Institutional purchased a new position in Palantir Technologies during the first quarter valued at approximately $62,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 1.9%

Shares of PLTR stock opened at $139.92 on Tuesday. The firm has a market capitalization of $330.20 billion, a P/E ratio of 608.35, a price-to-earnings-growth ratio of 11.72 and a beta of 2.64. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $144.86. The firm’s fifty day simple moving average is $121.59 and its 200 day simple moving average is $97.91.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 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 during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLTR. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital set a $155.00 target price on Palantir Technologies and gave the stock a “buy” rating in a research report on Thursday, June 12th. Citigroup lifted their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Morgan Stanley raised their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.32.

Check Out Our Latest Report on Palantir Technologies

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 405,000 shares of the 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 completion of the transaction, the insider now owns 702,786 shares of the company’s stock, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,506,925 shares of company stock worth $188,456,658. 12.93% of the stock is currently owned by company insiders.

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.

Featured Articles

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR – Free Report).