3,722 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by CMC Financial Group

CMC Financial Group acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,722 shares of the company’s stock, valued at approximately $314,000. Palantir Technologies comprises about 0.7% of CMC Financial Group’s investment portfolio, making the stock its 19th largest holding.

Several other large investors have also made changes to their positions in PLTR. Tallon Kerry Patrick acquired a new position in Palantir Technologies in the 4th quarter valued at approximately $289,000. Union Bancaire Privee UBP SA acquired a new position in Palantir Technologies in the 4th quarter valued at approximately $15,177,000. Revolve Wealth Partners LLC acquired a new position in Palantir Technologies in the 4th quarter valued at approximately $450,000. Mather Group LLC. raised its holdings in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after acquiring an additional 448 shares in the last quarter. Finally, Trilogy Capital Inc. acquired a new position in Palantir Technologies in the 4th quarter valued at approximately $330,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on PLTR shares. Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target for the company. William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Royal Bank of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. UBS Group upped their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Finally, Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $83.95.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $127.72 on Friday. The firm has a market cap of $301.41 billion, a PE ratio of 672.25, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $135.28. The stock’s 50 day simple moving average is $110.01 and its 200 day simple moving average is $92.16.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 EPS. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,708 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $215,874.12. Following the transaction, the insider now directly owns 34,468 shares in the company, valued at approximately $4,356,410.52. This trade represents a 4.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $50,497.60. The trade was a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,894,925 shares of company stock worth $369,820,528 in the last three months. Insiders own 9.23% of the company’s stock.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.