WealthPLAN Partners LLC Purchases New Position in Palantir Technologies Inc. (NYSE:PLTR)

WealthPLAN Partners LLC acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,610 shares of the company’s stock, valued at approximately $319,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PLTR. Vanguard Group Inc. increased its stake in shares of Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after buying an additional 6,466,596 shares during the period. SG Americas Securities LLC increased its position in Palantir Technologies by 183.3% during the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after purchasing an additional 102,479 shares during the period. Accel Wealth Management bought a new stake in shares of Palantir Technologies in the 1st quarter valued at about $360,000. Panagora Asset Management Inc. lifted its position in shares of Palantir Technologies by 185.6% in the 4th quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock worth $1,317,000 after purchasing an additional 49,839 shares during the period. Finally, ProShare Advisors LLC bought a new position in shares of Palantir Technologies during the first quarter valued at approximately $262,000. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 155,539 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $35.02, for a total value of $5,446,975.78. Following the sale, the insider now directly owns 331,369 shares in the company, valued at $11,604,542.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,377,238 shares of company stock valued at $190,013,572. 12.93% of the stock is owned by insiders.

Analyst Ratings Changes

PLTR has been the subject of a number of analyst reports. Monness Crespi & Hardt lowered their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. DA Davidson upped their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Argus assumed coverage on Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $38.00 price target on shares of Palantir Technologies in a research report on Monday, September 9th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $26.79.

Palantir Technologies Price Performance

NYSE PLTR opened at $36.48 on Wednesday. The company has a market cap of $81.70 billion, a price-to-earnings ratio of 304.03, a PEG ratio of 6.16 and a beta of 2.72. The stock’s fifty day moving average price is $30.04 and its 200 day moving average price is $25.66. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $37.05.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same period in the prior year, the company posted $0.01 earnings per share. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. Research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share 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.