Quotient Wealth Partners LLC Purchases Shares of 9,393 Palantir Technologies Inc. (NYSE:PLTR)

Quotient Wealth Partners LLC acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,393 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds have also made changes to their positions in the business. First United Bank & Trust purchased a new stake in Palantir Technologies in the fourth quarter valued at $26,000. West Paces Advisors Inc. increased its position in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares during the last quarter. Bogart Wealth LLC boosted its position in shares of Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after purchasing an additional 1,065 shares during the period. Finally, GAMMA Investing LLC acquired a new position in Palantir Technologies during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $31.78 on Friday. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $33.13. The business’s fifty day moving average price is $27.65 and its 200 day moving average price is $24.65. The firm has a market capitalization of $71.17 billion, a PE ratio of 264.86, a P/E/G ratio of 5.66 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 EPS. Equities research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Shyam Sankar sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $24,352,627.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the transaction, the insider now owns 372,565 shares in the company, valued at $11,180,675.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. The disclosure for this sale can be found here. In the last three months, insiders sold 714,648 shares of company stock worth $21,567,539. Company insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research analyst reports. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Monness Crespi & Hardt reduced their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.93.

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.