Advisor Resource Council Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Advisor Resource Council purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 41,260 shares of the company’s stock, valued at approximately $3,314,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLTR. Assenagon Asset Management S.A. grew its stake in shares of Palantir Technologies by 15.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company’s stock valued at $4,191,000 after purchasing an additional 6,479 shares during the last quarter. Pitcairn Co. acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $281,000. Sagespring Wealth Partners LLC lifted its holdings in shares of Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company’s stock worth $2,030,000 after purchasing an additional 6,405 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Palantir Technologies in the 4th quarter valued at $52,033,000. Finally, CX Institutional acquired a new position in Palantir Technologies in the 1st quarter valued at $62,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PLTR. Mizuho increased their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a report on Wednesday, June 11th. Daiwa America upgraded Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Cantor Fitzgerald increased their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Royal Bank Of Canada reissued an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $89.32.

Palantir Technologies Stock Up 1.3%

Palantir Technologies stock opened at $139.96 on Friday. The firm has a market capitalization of $330.29 billion, a PE ratio of 608.52, a P/E/G ratio of 11.95 and a beta of 2.64. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $144.86. The firm’s 50-day simple moving average is $119.67 and its 200 day simple moving average is $96.64.

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

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock worth $188,456,658 in the last ninety days. 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.