Axxcess Wealth Management LLC Buys 4,123 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Axxcess Wealth Management LLC grew its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 32.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,027 shares of the company’s stock after buying an additional 4,123 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Palantir Technologies were worth $392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Pursue Wealth Partners LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth $1,741,000. Vanguard Group Inc. lifted its holdings in shares of Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Palantir Technologies by 10.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after purchasing an additional 116,220 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after purchasing an additional 102,479 shares during the period. Finally, Accel Wealth Management acquired a new position in shares of Palantir Technologies during the first quarter worth $360,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

NYSE:PLTR traded up $0.55 during trading hours on Friday, reaching $27.18. The company’s stock had a trading volume of 27,432,224 shares, compared to its average volume of 43,057,688. The firm has a market capitalization of $60.53 billion, a price-to-earnings ratio of 226.52, a PEG ratio of 6.15 and a beta of 2.71. The firm has a 50-day simple moving average of $24.86 and a 200-day simple moving average of $22.90. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $29.83.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $634.34 million for the quarter, compared to analysts’ expectations of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. Equities analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the sale, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the sale, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter Thiel sold 6,285,833 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the sale, the director now directly owns 64,520,599 shares in the company, valued at approximately $1,376,224,376.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,467,179 shares of company stock valued at $242,726,313. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PLTR. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Wedbush reaffirmed an “outperform” rating and set a $35.00 price target on shares of Palantir Technologies in a research report on Monday, May 6th. Royal Bank of Canada increased their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 7th. Citigroup increased their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, HSBC increased their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Seven research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.32.

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.