Spirit of America Management Corp NY Buys Shares of 3,500 Palantir Technologies Inc. (NASDAQ:PLTR)

Spirit of America Management Corp NY acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 3,500 shares of the company’s stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Avior Wealth Management LLC increased its holdings in Palantir Technologies by 63.7% during the 1st quarter. Avior Wealth Management LLC now owns 12,581 shares of the company’s stock worth $1,062,000 after acquiring an additional 4,897 shares during the period. ORG Partners LLC increased its holdings in shares of Palantir Technologies by 4.6% in the first quarter. ORG Partners LLC now owns 36,974 shares of the company’s stock worth $3,131,000 after purchasing an additional 1,619 shares during the period. OLD Second National Bank of Aurora increased its holdings in shares of Palantir Technologies by 83.3% in the first quarter. OLD Second National Bank of Aurora now owns 550 shares of the company’s stock worth $46,000 after purchasing an additional 250 shares during the period. LongView Wealth Management increased its holdings in shares of Palantir Technologies by 13.3% in the first quarter. LongView Wealth Management now owns 3,148 shares of the company’s stock worth $266,000 after purchasing an additional 370 shares during the period. Finally, Walter & Keenan Wealth Management LLC IN ADV increased its holdings in shares of Palantir Technologies by 1.1% in the first quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,560 shares of the company’s stock worth $1,651,000 after purchasing an additional 214 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLTR has been the topic of a number of research analyst reports. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 target price on the stock. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a “buy” rating in a research report on Thursday, June 12th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Cantor Fitzgerald upped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $89.32.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 405,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58% decrease in their position. 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 in the last ninety days. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Performance

PLTR stock opened at $137.30 on Friday. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $144.86. The firm’s fifty day moving average is $120.65 and its 200 day moving average is $97.09. The firm has a market cap of $324.02 billion, a P/E ratio of 596.96, a P/E/G ratio of 11.95 and a beta of 2.64.

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

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.