Palantir Technologies Inc. (NASDAQ:PLTR) Position Increased by Pinnacle Wealth Management LLC

Pinnacle Wealth Management LLC boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 67,343 shares of the company’s stock after purchasing an additional 390 shares during the period. Palantir Technologies makes up about 5.7% of Pinnacle Wealth Management LLC’s portfolio, making the stock its 2nd biggest position. Pinnacle Wealth Management LLC’s holdings in Palantir Technologies were worth $5,093,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the 4th quarter worth approximately $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $28,000. HighMark Wealth Management LLC boosted its holdings in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $31,000. Finally, R Squared Ltd purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the company an “outperform” rating in a report on Tuesday, May 6th. DA Davidson upped their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Finally, Bank of America upped their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Five 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.95.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $122.29 on Friday. The company has a fifty day moving average of $101.88 and a two-hundred day moving average of $87.09. The stock has a market capitalization of $286.81 billion, a PE ratio of 643.67, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $133.49.

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, hitting analysts’ consensus estimates of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $48,988. This represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the sale, the insider now owns 702,786 shares of the company’s stock, valued at $64,958,509.98. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,931,701 shares of company stock worth $373,180,433. Company insiders own 9.23% of the company’s stock.

Palantir Technologies 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.