Worthington Financial Partners LLC Takes Position in Palantir Technologies Inc. $PLTR

Worthington Financial Partners LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 7,615 shares of the company’s stock, valued at approximately $1,354,000. Palantir Technologies comprises about 1.2% of Worthington Financial Partners LLC’s holdings, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of PLTR. Bare Financial Services Inc raised 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 valued at $28,000 after purchasing an additional 55 shares during the last quarter. Basepoint Wealth LLC acquired a new stake in Palantir Technologies in the 4th quarter worth $29,000. United Financial Planning Group LLC acquired a new stake in Palantir Technologies in the 3rd quarter worth $32,000. Morton Brown Family Wealth LLC increased its holdings in shares of Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after purchasing an additional 125 shares during the period. Finally, Cornerstone Financial Management LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $128.47 on Friday. The stock has a market cap of $307.98 billion, a PE ratio of 144.35, a PEG ratio of 2.04 and a beta of 1.53. Palantir Technologies Inc. has a 1 year low of $122.68 and a 1 year high of $207.52. The stock has a 50 day simple moving average of $137.94 and a 200-day simple moving average of $152.57.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PLTR shares. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and reduced their target price for the company from $205.00 to $151.00 in a research note on Friday, May 1st. Citigroup boosted their price target on Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. BTIG Research cut Palantir Technologies to a “neutral” rating in a report on Tuesday. DZ Bank initiated coverage on Palantir Technologies in a report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 price target for the company. Finally, Royal Bank Of Canada reiterated an “underperform” rating and issued a $90.00 price objective on shares of Palantir Technologies in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.76.

Check Out Our Latest Stock Analysis on PLTR

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 165,514 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $22,516,524.56. Following the sale, the insider owned 642,786 shares of the company’s stock, valued at approximately $87,444,607.44. This represents a 20.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the sale, the insider owned 375,242 shares of the company’s stock, valued at $51,047,921.68. This trade represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 927,270 shares of company stock valued at $126,197,785. Insiders own 9.53% of the company’s stock.

Palantir Technologies News Summary

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

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.

Further Reading

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

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