Beacon Capital Management LLC Has $155,000 Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Beacon Capital Management LLC grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 21.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,842 shares of the company’s stock after purchasing an additional 322 shares during the period. Beacon Capital Management LLC’s holdings in Palantir Technologies were worth $155,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in Palantir Technologies during the fourth quarter worth about $289,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $15,177,000. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $450,000. Allspring Global Investments Holdings LLC raised its stake in shares of Palantir Technologies by 46.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,499 shares of the company’s stock valued at $13,421,000 after purchasing an additional 56,299 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC bought a new position in Palantir Technologies in the fourth quarter worth $296,000. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PLTR shares. DA Davidson boosted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, Royal Bank Of Canada reiterated an “underperform” rating on shares of Palantir Technologies 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 issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $89.32.

Palantir Technologies Trading Down 2.3%

Shares of NASDAQ PLTR opened at $138.20 on Wednesday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $144.86. The company has a 50-day moving average of $117.68 and a two-hundred day moving average of $95.83. The company has a market cap of $326.14 billion, a PE ratio of 600.87, a P/E/G ratio of 11.93 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies’s revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. This trade represents a 19.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider now owns 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock worth $188,456,658 over the last 90 days. Insiders own 12.93% 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.