PSI Advisors LLC Grows Position in Palantir Technologies Inc. (NASDAQ:PLTR)

PSI Advisors LLC boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 482.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,633 shares of the company’s stock after purchasing an additional 3,838 shares during the period. PSI Advisors LLC’s holdings in Palantir Technologies were worth $391,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. HighMark Wealth Management LLC lifted its position in shares of 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 in the last quarter. Sierra Ocean LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at about $31,000. Godsey & Gibb Inc. lifted its position in shares of Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock valued at $35,000 after acquiring an additional 370 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Palantir Technologies in the fourth quarter valued at about $34,000. Finally, Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at about $34,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $138.20 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86. The firm has a market capitalization of $326.14 billion, a price-to-earnings ratio of 600.87, a PEG ratio of 11.93 and a beta of 2.64. The stock’s 50-day simple moving average is $117.68 and its 200-day simple moving average is $95.83.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly 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 business 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 6.55% and a net margin of 18.32%. The company’s revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 98,177 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider now owns 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock worth $188,456,658 over the last quarter. Insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PLTR. Citigroup boosted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. DA Davidson lifted their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Mizuho lifted their target price on Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 11th. Finally, The Goldman Sachs Group lifted their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $89.32.

About Palantir Technologies

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.