MADDEN SECURITIES Corp Makes New $1.51 Million Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

MADDEN SECURITIES Corp bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,836 shares of the company’s stock, valued at approximately $1,505,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $289,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $15,177,000. Revolve Wealth Partners LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth $450,000. Vest Financial LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth $913,000. Finally, Apollon Wealth Management LLC boosted its stake in shares of Palantir Technologies by 42.0% in the fourth quarter. Apollon Wealth Management LLC now owns 37,085 shares of the company’s stock valued at $2,805,000 after purchasing an additional 10,966 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

PLTR stock opened at $132.06 on Tuesday. The company has a 50-day moving average of $110.90 and a two-hundred day moving average of $93.06. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $135.28. The stock has a market capitalization of $311.65 billion, a price-to-earnings ratio of 695.09, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

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

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 39,825 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $5,016,755.25. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $810,271,540.26. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $50,497.60. The trade was a 99.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,894,925 shares of company stock valued at $369,820,528. Company insiders own 9.23% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Citigroup increased their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target for the company. Royal Bank of Canada reissued an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Loop Capital increased their target price on Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $83.95.

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.