MADDEN SECURITIES Corp Purchases New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

MADDEN SECURITIES Corp bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, HoldingsChannel.com reports. The fund bought 17,836 shares of the company’s stock, valued at approximately $1,505,000.

Other institutional investors also recently modified their holdings of the company. Simplicity Wealth LLC bought a new position in Palantir Technologies in the 1st quarter worth approximately $673,000. West Paces Advisors Inc. raised its position in shares of Palantir Technologies by 25.8% during the first quarter. West Paces Advisors Inc. now owns 2,012 shares of the company’s stock worth $170,000 after acquiring an additional 412 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Palantir Technologies by 76.4% during the first quarter. GAMMA Investing LLC now owns 22,653 shares of the company’s stock worth $1,912,000 after acquiring an additional 9,810 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of Palantir Technologies by 3.2% during the first quarter. Yousif Capital Management LLC now owns 243,516 shares of the company’s stock worth $20,553,000 after acquiring an additional 7,527 shares during the last quarter. Finally, Parisi Gray Wealth Management raised its holdings in Palantir Technologies by 6.3% during the 1st quarter. Parisi Gray Wealth Management now owns 119,768 shares of the company’s stock worth $10,108,000 after purchasing an additional 7,057 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PLTR has been the subject of several recent research reports. Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. DA Davidson increased their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Citigroup upped their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, Loop Capital upped their price objective on Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $83.95.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $132.06 on Tuesday. The company has a market cap of $311.65 billion, a PE ratio of 695.09, a PEG ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $135.28. The stock has a 50-day simple moving average of $110.90 and a 200 day simple moving average of $93.06.

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

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Buckley sold 1,708 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $215,874.12. Following the completion of the transaction, the insider now directly owns 34,468 shares of the company’s stock, valued at $4,356,410.52. This represents a 4.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,894,925 shares of company stock worth $369,820,528 in the last quarter. Corporate insiders own 9.23% of the company’s stock.

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.