Petros Family Wealth LLC Acquires New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Petros Family Wealth LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, HoldingsChannel reports. The institutional investor acquired 3,236 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds also recently made changes to their positions in the company. Godsey & Gibb Inc. grew its stake in shares of Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock valued at $35,000 after acquiring an additional 370 shares during the period. First Command Advisory Services Inc. bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $34,000. Summit Securities Group LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $34,000. Fairfield Financial Advisors LTD bought a new position in Palantir Technologies in the 4th quarter worth approximately $35,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Palantir Technologies in the 4th quarter worth approximately $36,000. 45.65% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Ryan D. Taylor sold 98,177 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the sale, the insider now owns 403,171 shares of the company’s stock, valued at $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,506,925 shares of company stock worth $188,456,658. Company insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Cantor Fitzgerald upped their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. William Blair set a $84.00 price target on Palantir Technologies in a research note on Wednesday, March 5th. Daiwa America upgraded Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Loop Capital set a $155.00 price target on Palantir Technologies and gave the stock a “buy” rating in a research note on Thursday, June 12th. Finally, Royal Bank Of Canada restated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $89.32.

Palantir Technologies Stock Up 1.9%

PLTR stock opened at $139.92 on Tuesday. The business’s fifty day simple moving average is $121.59 and its two-hundred day simple moving average is $97.91. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $144.86. The firm has a market cap of $330.20 billion, a price-to-earnings ratio of 608.35, a PEG ratio of 11.72 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the firm posted $0.08 earnings per share. The business’s revenue was up 39.4% compared to the same quarter last year. Research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.