Sheets Smith Wealth Management Buys Shares of 19,125 Palantir Technologies Inc. (NYSE:PLTR)

Sheets Smith Wealth Management purchased a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,125 shares of the company’s stock, valued at approximately $440,000.

A number of other large investors also recently modified their holdings of the company. West Paces Advisors Inc. raised its position in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares during the last quarter. Bogart Wealth LLC raised its position in Palantir Technologies by 332.8% during the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after purchasing an additional 1,065 shares during the last quarter. Halpern Financial Inc. raised its position in Palantir Technologies by 44.0% during the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after purchasing an additional 440 shares during the last quarter. Finally, First United Bank & Trust bought a new position in Palantir Technologies during the 4th quarter worth $26,000. 45.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $21.00 to $22.00 in a research report on Tuesday. Wedbush reiterated an “outperform” rating and set a $35.00 price target on shares of Palantir Technologies in a research note on Monday, May 6th. Monness Crespi & Hardt downgraded Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a research note on Friday, June 21st. DA Davidson lifted their price target on Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Argus assumed coverage on Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price target for the company. Seven equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.32.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total value of $84,728.00. Following the sale, the director now owns 29,817 shares in the company, valued at approximately $834,876. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total value of $84,728.00. Following the sale, the director now directly owns 29,817 shares in the company, valued at approximately $834,876. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter Thiel sold 6,285,833 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the sale, the director now owns 64,520,599 shares in the company, valued at $1,376,224,376.67. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,375,179 shares of company stock worth $240,025,973. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Trading Down 1.6 %

PLTR traded down $0.45 during midday trading on Wednesday, reaching $28.22. The company’s stock had a trading volume of 45,116,073 shares, compared to its average volume of 55,698,457. The firm has a market capitalization of $62.84 billion, a price-to-earnings ratio of 237.69, a PEG ratio of 6.62 and a beta of 2.71. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $29.30. The stock’s 50-day moving average is $23.81 and its 200-day moving average is $22.35.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $634.34 million for the quarter, compared to analysts’ expectations of $614.88 million. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.