Claro Advisors LLC Raises Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Claro Advisors LLC raised its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 18.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,398 shares of the company’s stock after acquiring an additional 2,346 shares during the period. Claro Advisors LLC’s holdings in Palantir Technologies were worth $354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Miracle Mile Advisors LLC increased its stake in Palantir Technologies by 29.3% during the first quarter. Miracle Mile Advisors LLC now owns 13,590 shares of the company’s stock worth $313,000 after purchasing an additional 3,080 shares during the period. Udine Wealth Management Inc. increased its position in shares of Palantir Technologies by 10.1% during the first quarter. Udine Wealth Management Inc. now owns 103,398 shares of the company’s stock worth $2,379,000 after acquiring an additional 9,486 shares during the period. Diversified Trust Co raised its stake in shares of Palantir Technologies by 7.9% in the first quarter. Diversified Trust Co now owns 22,671 shares of the company’s stock valued at $522,000 after acquiring an additional 1,669 shares in the last quarter. Aviance Capital Partners LLC purchased a new position in Palantir Technologies in the first quarter valued at $317,000. Finally, Citizens Business Bank acquired a new position in Palantir Technologies during the 1st quarter worth $3,105,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. DA Davidson lifted their price objective on Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Wedbush reiterated an “outperform” rating and set a $35.00 price target on shares of Palantir Technologies in a report on Monday, May 6th. HSBC raised their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Mizuho boosted their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Finally, Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research note on Friday, June 21st. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $21.25.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $25.88 on Tuesday. The company has a market capitalization of $57.62 billion, a P/E ratio of 215.64, a PEG ratio of 5.85 and a beta of 2.71. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $27.50. The company’s fifty day moving average is $22.72 and its two-hundred day moving average is $21.59.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share 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. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Peter Thiel sold 5,000,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $20.78, for a total value of $103,900,000.00. Following the completion of the transaction, the director now owns 15,733,625 shares in the company, valued at $326,944,727.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Palantir Technologies news, Director Peter Thiel sold 5,000,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $20.78, for a total value of $103,900,000.00. Following the sale, the director now owns 15,733,625 shares of the company’s stock, valued at $326,944,727.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 10,907 shares of Palantir Technologies stock in a transaction on Monday, May 20th. The stock was sold at an average price of $21.43, for a total value of $233,737.01. Following the transaction, the insider now directly owns 651,099 shares of the company’s stock, valued at approximately $13,953,051.57. The disclosure for this sale can be found here. In the last three months, insiders sold 11,372,153 shares of company stock valued at $239,941,245. Corporate 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.