Axxcess Wealth Management LLC Purchases 44,943 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Axxcess Wealth Management LLC increased its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 264.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,970 shares of the company’s stock after purchasing an additional 44,943 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Palantir Technologies were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PLTR. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. 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 valued at $27,000 after buying an additional 620 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares in the last quarter. Finally, Bogart Wealth LLC lifted its holdings in Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after buying an additional 1,065 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 0.1 %

PLTR opened at $36.40 on Thursday. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $37.11. The firm has a 50 day moving average price of $30.20 and a 200-day moving average price of $25.74. The stock has a market capitalization of $81.06 billion, a price-to-earnings ratio of 303.33, a PEG ratio of 6.16 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the previous year, the company earned $0.01 EPS. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now owns 152,280 shares of the company’s stock, valued at $5,535,378. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the sale, the director now directly owns 152,280 shares of the company’s stock, valued at $5,535,378. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,383,238 shares of company stock worth $190,231,672. Company insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

PLTR has been the topic of several recent research reports. The Goldman Sachs Group upped their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Northland Securities began coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price for the company. Raymond James lifted their target price on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, DA Davidson boosted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.79.

About Palantir Technologies

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.