Tyche Wealth Partners LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Tyche Wealth Partners LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,217 shares of the company’s stock, valued at approximately $272,000.

Other institutional investors also recently made changes to their positions in the company. Continuum Advisory LLC raised its position in shares of Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after purchasing an additional 98 shares during the period. Heritage Wealth Management Inc. CA grew its stake in Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after buying an additional 111 shares during the last quarter. True Wealth Design LLC grew its stake in Palantir Technologies by 29.3% during the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock worth $38,000 after buying an additional 114 shares during the last quarter. Gemmer Asset Management LLC increased its position in Palantir Technologies by 1.6% in the first quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company’s stock worth $639,000 after buying an additional 119 shares during the period. Finally, Synergy Asset Management LLC lifted its stake in Palantir Technologies by 1.7% in the first quarter. Synergy Asset Management LLC now owns 7,017 shares of the company’s stock valued at $592,000 after buying an additional 120 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $142.90 on Thursday. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $147.67. The business’s fifty day moving average is $123.49 and its two-hundred day moving average is $98.53. The stock has a market capitalization of $337.23 billion, a P/E ratio of 621.30, a P/E/G ratio of 12.23 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The company 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%. Palantir Technologies’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

PLTR has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. UBS Group restated a “positive” rating on shares of Palantir Technologies in a research report on Wednesday. Daiwa Capital Markets initiated coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price target on the stock. William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Finally, Royal Bank Of Canada restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.