3,508 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Acquired by Traveka Wealth LLC

Traveka Wealth LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,508 shares of the company’s stock, valued at approximately $296,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares during the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies during the 4th quarter worth $1,360,191,000. FMR LLC boosted its stake in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $134.27 on Friday. The firm has a market cap of $316.85 billion, a PE ratio of 583.76, a price-to-earnings-growth ratio of 11.47 and a beta of 2.59. The company has a 50-day moving average of $128.47 and a two-hundred day moving average of $101.68. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million during 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 for the quarter was up 39.4% compared to the same quarter last year. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 309,696 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares of the company’s stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. 9.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PLTR has been the topic of several recent analyst reports. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.32.

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.