SHP Wealth Management Takes Position in Palantir Technologies Inc. $PLTR

SHP Wealth Management bought a new position in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) during the fourth quarter, Holdings Channel reports. The fund bought 7,493 shares of the company’s stock, valued at approximately $1,332,000.

Other institutional investors also recently modified their holdings of the company. BSN CAPITAL PARTNERS Ltd purchased a new position in Palantir Technologies during the 4th quarter valued at about $37,350,000. Stenger Family Office LLC purchased a new stake in Palantir Technologies in the fourth quarter worth about $1,341,000. EJMK Ventures LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $652,000. WMS Group LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $820,000. Finally, Tulsa Wealth Advisors INC bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $2,285,000. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLTR. Mizuho reduced their price objective on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Cantor Fitzgerald restated a “neutral” rating and set a $138.00 price target on shares of Palantir Technologies in a report on Friday, May 22nd. BTIG Research lowered Palantir Technologies to a “neutral” rating in a research report on Tuesday. Weiss Ratings downgraded shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the company from $205.00 to $151.00 in a research note on Friday, May 1st. Two equities 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, the stock has an average rating of “Moderate Buy” and an average price target of $192.76.

Get Our Latest Stock Analysis on PLTR

Palantir Technologies Price Performance

PLTR stock opened at $128.47 on Friday. The stock has a market capitalization of $307.98 billion, a P/E ratio of 144.35, a P/E/G 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 business has a fifty day moving average price of $137.94 and a 200-day moving average price of $152.57.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released its quarterly earnings data 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 company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm posted $0.13 earnings per share. Palantir Technologies’s revenue was up 84.7% compared to the same quarter last year. As a group, analysts anticipate that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Palantir Technologies News Roundup

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 319,934 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 transaction of $43,523,821.36. Following the transaction, the insider owned 592 shares in the company, valued at approximately $80,535.68. This represents a 99.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the sale, the insider directly owned 199,759 shares in the company, valued at approximately $27,175,214.36. The trade was a 8.96% 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 ninety days, insiders have sold 927,270 shares of company stock worth $126,197,785. 9.53% of the stock is owned by company insiders.

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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