Parisi Gray Wealth Management Raises Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Parisi Gray Wealth Management grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 119,768 shares of the company’s stock after acquiring an additional 7,057 shares during the period. Palantir Technologies comprises approximately 3.3% of Parisi Gray Wealth Management’s investment portfolio, making the stock its 8th biggest holding. Parisi Gray Wealth Management’s holdings in Palantir Technologies were worth $10,108,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Roxbury Financial LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth $27,000. HighMark Wealth Management LLC increased its position in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Sierra Ocean LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $31,000. Godsey & Gibb Inc. raised its holdings in shares of Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock valued at $35,000 after purchasing an additional 370 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 6.5%

PLTR stock opened at $127.72 on Monday. The company has a 50-day simple moving average of $110.01 and a 200 day simple moving average of $92.58. The company has a market capitalization of $301.41 billion, a P/E ratio of 672.25, a PEG ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28.

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, meeting analysts’ consensus estimates of $0.13. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. Palantir Technologies’s revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 EPS. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $48,988. This represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now directly owns 61,339 shares of the company’s stock, valued at $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,894,925 shares of company stock worth $369,820,528 in the last quarter. 9.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. UBS Group boosted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Loop Capital lifted their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, DA Davidson boosted their price objective on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $83.95.

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.