Kellett Wealth Advisors LLC Buys 581 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Kellett Wealth Advisors LLC increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 19.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,581 shares of the company’s stock after purchasing an additional 581 shares during the period. Kellett Wealth Advisors LLC’s holdings in Palantir Technologies were worth $302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its stake in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp increased its position in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank bought a new stake in Palantir Technologies during the fourth quarter worth about $1,360,191,000. FMR LLC increased its holdings in shares of Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after buying an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 2.4%

Shares of PLTR stock opened at $143.23 on Wednesday. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $144.86. The firm has a fifty day moving average of $122.49 and a 200-day moving average of $98.22. The firm has a market capitalization of $338.01 billion, a price-to-earnings ratio of 622.74, a price-to-earnings-growth ratio of 11.94 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million during 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%. Palantir Technologies’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. Research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’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 sale, the director now owns 61,339 shares in the company, valued at $4,983,793.75. The trade was a 1.29% 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 ninety days. Company insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PLTR. UBS Group increased their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Daiwa Capital Markets began coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target for the company. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a “buy” rating in a research report on Thursday, June 12th. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Finally, Daiwa America raised Palantir Technologies to a “hold” rating in a report 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $89.32.

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.