Palantir Technologies Inc. (NYSE:PLTR) Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 32.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,027 shares of the company’s stock after acquiring an additional 4,123 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Palantir Technologies were worth $392,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after purchasing an additional 1,980,495 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in Palantir Technologies by 19.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Palantir Technologies by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,063,645 shares of the company’s stock valued at $121,283,000 after purchasing an additional 403,905 shares during the last quarter. Finally, Coatue Management LLC raised its stake in Palantir Technologies by 285.6% in the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock valued at $59,191,000 after purchasing an additional 2,553,432 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 64,520,599 shares in the company, valued at approximately $1,376,224,376.67. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Peter Thiel sold 6,285,833 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Glazer sold 90,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the transaction, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The disclosure for this sale can be found here. Insiders sold a total of 11,467,179 shares of company stock worth $242,726,313 in the last three months. 12.93% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Argus began coverage on Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target for the company. Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a report on Friday, June 21st. Citigroup upped their target price on Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Seven equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.32.

Palantir Technologies Price Performance

Shares of PLTR stock traded up $0.55 on Friday, hitting $27.18. 27,432,224 shares of the stock traded hands, compared to its average volume of 43,057,688. The company has a market capitalization of $60.53 billion, a PE ratio of 226.52, a PEG ratio of 6.15 and a beta of 2.71. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $29.83. The company’s fifty day moving average is $24.86 and its 200 day moving average is $22.90.

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