InTrack Investment Management Inc Grows Holdings in Palantir Technologies Inc. (NYSE:PLTR)

InTrack Investment Management Inc raised its position in Palantir Technologies Inc. (NYSE:PLTR) by 39.2% in the first quarter, Holdings Channel reports. The institutional investor owned 74,364 shares of the company’s stock after purchasing an additional 20,923 shares during the period. Palantir Technologies accounts for about 1.3% of InTrack Investment Management Inc’s portfolio, making the stock its 16th largest position. InTrack Investment Management Inc’s holdings in Palantir Technologies were worth $1,711,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in Palantir Technologies by 218.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 60,720 shares of the company’s stock worth $1,397,000 after acquiring an additional 41,666 shares in the last quarter. Claro Advisors LLC increased its stake in shares of Palantir Technologies by 18.0% during the first quarter. Claro Advisors LLC now owns 15,398 shares of the company’s stock worth $354,000 after purchasing an additional 2,346 shares in the last quarter. Miracle Mile Advisors LLC raised its position in shares of Palantir Technologies by 29.3% during the 1st 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 last quarter. Udine Wealth Management Inc. lifted its stake in Palantir Technologies by 10.1% in the 1st quarter. Udine Wealth Management Inc. now owns 103,398 shares of the company’s stock valued at $2,379,000 after buying an additional 9,486 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in Palantir Technologies by 7.9% in the 1st quarter. Diversified Trust Co now owns 22,671 shares of the company’s stock worth $522,000 after buying an additional 1,669 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

PLTR traded down $0.04 during trading hours on Tuesday, reaching $25.84. The company’s stock had a trading volume of 32,039,472 shares, compared to its average volume of 56,408,707. The stock has a market cap of $57.53 billion, a PE ratio of 219.35, a P/E/G ratio of 5.85 and a beta of 2.71. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $27.50. The business’s 50-day moving average is $22.72 and its 200-day moving average is $21.59.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. Analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. Wedbush reiterated an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research note on Monday, May 6th. Mizuho raised their price objective on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Royal Bank of Canada upped their target price on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, May 7th. Argus started coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 price target on the stock. Finally, Monness Crespi & Hardt lowered shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research report on Friday, June 21st. Six equities 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.25.

Insider Buying and Selling

In related news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Thiel sold 5,000,000 shares of the business’s stock in a transaction that occurred 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 approximately $326,944,727.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,372,153 shares of company stock valued at $239,941,245 in the last ninety days. Company insiders own 12.93% of the company’s stock.

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.