Atlas Private Wealth Advisors Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Atlas Private Wealth Advisors increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,326 shares of the company’s stock after purchasing an additional 296 shares during the period. Atlas Private Wealth Advisors’ holdings in Palantir Technologies were worth $4,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $27,000. HighMark Wealth Management LLC grew its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares during the period. Sierra Ocean LLC bought a new stake in Palantir Technologies during the fourth quarter valued at approximately $31,000. First Command Advisory Services Inc. purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $34,000. Finally, Summit Securities Group LLC bought a new position in Palantir Technologies in the fourth quarter worth approximately $34,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $137.40 on Friday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $140.00. The business has a 50 day simple moving average of $115.48 and a two-hundred day simple moving average of $94.81. The stock has a market capitalization of $324.25 billion, a PE ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. On average, analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PLTR shares. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Royal Bank of Canada restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Finally, Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $86.30.

Insider Activity

In other news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $51,545.44. This represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,816,925 shares of company stock worth $215,448,358. 9.23% of the stock is currently owned by corporate insiders.

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.