Miracle Mile Advisors LLC Raises Stake in Palantir Technologies Inc. (NYSE:PLTR)

Miracle Mile Advisors LLC grew its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 29.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,590 shares of the company’s stock after buying an additional 3,080 shares during the period. Miracle Mile Advisors LLC’s holdings in Palantir Technologies were worth $313,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Pursue Wealth Partners LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at approximately $1,741,000. Vanguard Group Inc. raised its stake in shares of Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Palantir Technologies by 10.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after purchasing an additional 116,220 shares during the period. Udine Wealth Management Inc. purchased a new position in Palantir Technologies in the 4th quarter valued at $1,612,000. Finally, Panagora Asset Management Inc. increased its stake in Palantir Technologies by 185.6% in the 4th quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock valued at $1,317,000 after buying an additional 49,839 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 2.2 %

NYSE:PLTR opened at $25.88 on Tuesday. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $27.50. The company has a market capitalization of $57.62 billion, a P/E ratio of 215.64, a price-to-earnings-growth ratio of 5.85 and a beta of 2.71. The firm has a 50-day moving average price of $22.72 and a two-hundred day moving average price of $21.59.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The firm had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent analyst reports. Citigroup lifted their target price on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. DA Davidson boosted their target price on Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. HSBC increased their target price on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday, May 7th. Finally, Mizuho increased their price objective on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average price target of $21.25.

Insider Activity

In related news, insider Heather A. Planishek sold 2,398 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the transaction, the insider now owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek sold 2,398 shares of Palantir Technologies stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the sale, the insider now directly owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The disclosure for this sale can be found here. Insiders have sold 11,372,153 shares of company stock worth $239,941,245 over the last three months. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.