Sovereign Financial Group Inc. Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Sovereign Financial Group Inc. lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 10.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,427 shares of the company’s stock after purchasing an additional 312 shares during the period. Sovereign Financial Group Inc.’s holdings in Palantir Technologies were worth $289,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the fourth quarter worth $27,000. HighMark Wealth Management LLC lifted its stake in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth $31,000. First Command Advisory Services Inc. purchased a new stake in shares of Palantir Technologies during the 4th quarter worth $34,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 39,825 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 6,432,258 shares in the company, valued at $810,271,540.26. This trade represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,894,925 shares of company stock valued at $369,820,528 in the last 90 days. 9.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on PLTR. Loop Capital increased their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” 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 target price for the company. Citigroup increased their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Morgan Stanley increased their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald increased their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $83.95.

Palantir Technologies Stock Performance

Shares of PLTR opened at $127.72 on Friday. The business’s 50-day moving average is $110.01 and its two-hundred day moving average is $92.37. The company has a market capitalization of $301.41 billion, a P/E ratio of 672.25, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. Analysts forecast 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.