Tempo Wealth LLC Takes Position in Palantir Technologies Inc. $PLTR

Tempo Wealth LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 18,995 shares of the company’s stock, valued at approximately $3,376,000.

A number of other large investors have also made changes to their positions in the business. Bare Financial Services Inc grew its stake in Palantir Technologies by 54.5% during the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the last quarter. Basepoint Wealth LLC acquired a new position in Palantir Technologies during the 4th quarter valued at about $29,000. Morton Brown Family Wealth LLC raised its stake in Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after buying an additional 125 shares during the last quarter. Cornerstone Financial Management LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at about $31,000. Finally, United Financial Planning Group LLC acquired a new stake in Palantir Technologies in the third quarter worth about $32,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,674,818.48. Following the transaction, the insider directly owned 199,759 shares of the company’s stock, valued at approximately $27,175,214.36. The trade was a 8.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 927,270 shares of company stock worth $126,197,785 in the last ninety days. 9.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their price target on Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Royal Bank Of Canada reissued an “underperform” rating and set a $90.00 target price on shares of Palantir Technologies in a research report on Tuesday, May 5th. Mizuho cut their price target on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Finally, Oppenheimer started coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They issued an “outperform” rating and a $200.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Palantir Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $192.76.

Read Our Latest Research Report on Palantir Technologies

Palantir Technologies Price Performance

Palantir Technologies stock opened at $128.47 on Friday. The business’s 50-day moving average price is $137.94 and its 200 day moving average price is $152.57. The firm has a market cap of $307.98 billion, a price-to-earnings ratio of 144.35, a price-to-earnings-growth ratio of 2.04 and a beta of 1.53. Palantir Technologies Inc. has a 52 week low of $122.68 and a 52 week high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted $0.13 earnings per share. Palantir Technologies’s revenue for the quarter was up 84.7% on a year-over-year basis. Equities analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current year.

About Palantir Technologies

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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