Beacon Financial Group Invests $284,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Beacon Financial Group acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,360 shares of the company’s stock, valued at approximately $284,000.

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

Palantir Technologies Stock Performance

PLTR stock opened at $127.72 on Friday. The firm has a fifty day moving average price of $110.01 and a 200 day moving average price of $92.16. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28. 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 (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period last year, the firm posted $0.08 earnings per share. Palantir Technologies’s revenue for the quarter was up 39.4% compared to the same quarter last year. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price on the stock. Royal Bank of Canada restated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Citigroup raised their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, DA Davidson raised their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.95.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,708 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $215,874.12. Following the completion of the transaction, the insider now directly owns 34,468 shares of the company’s stock, valued at $4,356,410.52. The trade was a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, 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. Over the last ninety days, insiders sold 3,894,925 shares of company stock valued at $369,820,528. 9.23% of the stock is owned by corporate insiders.

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.