West Branch Capital LLC Grows Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

West Branch Capital LLC boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 28,571.4% in the first quarter, Holdings Channel reports. The institutional investor owned 2,007 shares of the company’s stock after acquiring an additional 2,000 shares during the quarter. West Branch Capital LLC’s holdings in Palantir Technologies were worth $169,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $27,000. HighMark Wealth Management LLC grew its position in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $31,000. First Command Advisory Services Inc. purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $34,000. Finally, Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $34,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $51,545.44. This represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now directly owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,816,925 shares of company stock valued at $215,448,358. Insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Up 1.6%

Palantir Technologies stock opened at $137.40 on Friday. The company has a market capitalization of $324.25 billion, a PE ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64. The firm has a fifty day simple moving average of $115.48 and a two-hundred day simple moving average of $94.61. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $140.00.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on PLTR. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective for the company. DA Davidson lifted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, Citigroup lifted their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Five research 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, Palantir Technologies has an average rating of “Hold” and a consensus price target of $86.30.

About Palantir Technologies

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.