Wellington Shields Capital Management LLC Purchases New Position in Palantir Technologies Inc. (NYSE:PLTR)

Wellington Shields Capital Management LLC purchased a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the 1st quarter, HoldingsChannel reports. The firm purchased 5,250 shares of the company’s stock, valued at approximately $121,000.

Several other large investors have also made changes to their positions in PLTR. Federated Hermes Inc. bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at approximately $83,000. Lazard Asset Management LLC grew its stake in shares of Palantir Technologies by 76,089.5% in the 3rd quarter. Lazard Asset Management LLC now owns 43,428 shares of the company’s stock valued at $694,000 after buying an additional 43,371 shares in the last quarter. Scotia Capital Inc. grew its stake in shares of Palantir Technologies by 55.0% in the 3rd quarter. Scotia Capital Inc. now owns 26,117 shares of the company’s stock valued at $418,000 after buying an additional 9,262 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in shares of Palantir Technologies by 2.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 727,241 shares of the company’s stock valued at $11,632,000 after buying an additional 18,104 shares in the last quarter. Finally, Baker Avenue Asset Management LP lifted its holdings in Palantir Technologies by 3,225.3% in the 3rd quarter. Baker Avenue Asset Management LP now owns 4,988 shares of the company’s stock worth $80,000 after purchasing an additional 4,838 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NYSE PLTR traded up $0.61 during trading hours on Wednesday, reaching $28.00. The stock had a trading volume of 20,502,109 shares, compared to its average volume of 55,773,734. The business’s fifty day moving average is $23.28 and its two-hundred day moving average is $21.97. The company has a market cap of $62.35 billion, a price-to-earnings ratio of 229.77, a PEG ratio of 6.40 and a beta of 2.71. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $28.38.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $614.88 million. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PLTR. Argus began coverage on Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 target price for the company. Wedbush restated an “outperform” rating and issued a $35.00 target price on shares of Palantir Technologies in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft boosted their target price on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday, May 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Finally, Monness Crespi & Hardt lowered Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a report on Friday, June 21st. Six research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $21.25.

Insider Transactions at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of the company’s 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 $35,133,328.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the transaction, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,372,153 shares of company stock worth $239,941,245. Insiders own 12.93% of the company’s stock.

Palantir Technologies 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.