Ritholtz Wealth Management Purchases 10,318 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Ritholtz Wealth Management raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 96.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 20,999 shares of the company’s stock after acquiring an additional 10,318 shares during the quarter. Ritholtz Wealth Management’s holdings in Palantir Technologies were worth $1,772,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PLTR. Norges Bank bought a new position in Palantir Technologies during the fourth quarter valued at $1,360,191,000. Geode Capital Management LLC grew its holdings 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 valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP grew its holdings in Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after purchasing an additional 3,907,022 shares during the period. Invesco Ltd. grew its holdings in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Finally, Capital World Investors bought a new position in shares of Palantir Technologies in the fourth quarter worth $253,816,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Up 2.9%

NASDAQ PLTR opened at $141.41 on Tuesday. The stock’s 50-day simple moving average is $116.76 and its two-hundred day simple moving average is $95.53. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $144.86. The company has a market capitalization of $333.72 billion, a price-to-earnings ratio of 744.30, a PEG ratio of 10.84 and a beta of 2.64.

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

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of analyst reports. Daiwa America raised Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. DA Davidson raised their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Loop Capital set a $155.00 price target on Palantir Technologies and gave the stock a “buy” rating in a report on Thursday, June 12th. Wedbush set a $140.00 price target on Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Finally, Citigroup raised their price target on 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 given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $86.30.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was 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 directly owns 61,339 shares in the company, valued at $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,506,925 shares of company stock valued at $188,456,658. 9.23% of the stock is currently owned by 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.