Westside Investment Management Inc. Grows Position in Palantir Technologies Inc. $PLTR

Westside Investment Management Inc. raised its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 98.5% during the 2nd quarter, Holdings Channel reports. The firm owned 794 shares of the company’s stock after acquiring an additional 394 shares during the quarter. Westside Investment Management Inc.’s holdings in Palantir Technologies were worth $105,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PLTR. Revolve Wealth Partners LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $450,000. Bison Wealth LLC increased its position in shares of Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock valued at $1,296,000 after buying an additional 4,667 shares in the last quarter. Capstone Wealth Management Group LLC increased its position in shares of Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock valued at $1,447,000 after buying an additional 4,722 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at $63,000. Finally, World Investment Advisors increased its position in shares of Palantir Technologies by 1.6% in the first quarter. World Investment Advisors now owns 22,498 shares of the company’s stock valued at $1,899,000 after buying an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 3.3%

Shares of NASDAQ:PLTR opened at $207.18 on Tuesday. The firm has a market cap of $491.50 billion, a price-to-earnings ratio of 690.62, a PEG ratio of 10.87 and a beta of 2.63. The stock’s 50-day moving average price is $175.75 and its two-hundred day moving average price is $151.99. Palantir Technologies Inc. has a 12-month low of $41.03 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm’s revenue was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PLTR shares. Weiss Ratings restated a “buy (b-)” rating on shares of Palantir Technologies in a research report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, October 28th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Citigroup increased their price objective on Palantir Technologies from $177.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Finally, Wall Street Zen lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Five equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $142.00.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the sale, the insider owned 307,470 shares in the company, valued at $48,687,874.50. The trade was a 10.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $159.55, for a total value of $4,786,500.00. Following the completion of the sale, the insider owned 702,786 shares of the company’s stock, valued at $112,129,506.30. This trade represents a 4.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,527,750 shares of company stock worth $234,463,896 over the last ninety days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Company Profile

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.