Simplicity Wealth LLC Takes $673,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Simplicity Wealth LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the first quarter, HoldingsChannel reports. The fund acquired 7,977 shares of the company’s stock, valued at approximately $673,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Roxbury Financial LLC bought a new position in Palantir Technologies in the fourth quarter valued at approximately $27,000. HighMark Wealth Management LLC boosted its stake in Palantir Technologies by 73.5% in the fourth 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 bought a new position in Palantir Technologies in the fourth quarter valued at approximately $31,000. First Command Advisory Services Inc. bought a new position in Palantir Technologies in the fourth quarter valued at approximately $34,000. Finally, Summit Securities Group LLC bought a new position in Palantir Technologies in the fourth quarter valued at approximately $34,000. 45.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PLTR shares. Royal Bank of Canada reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. The Goldman Sachs Group increased their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. UBS Group upped their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Loop Capital raised their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Finally, Citigroup raised their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.05.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $51,545.44. This trade represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,661,925 shares of company stock worth $268,580,958 over the last quarter. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $136.28 on Thursday. The firm has a 50-day moving average of $113.13 and a 200-day moving average of $93.63. The company has a market cap of $321.61 billion, a P/E ratio of 717.31, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $140.00.

Palantir Technologies (NASDAQ:PLTR) last issued 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. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company’s quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal 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.