Archer Investment Corp Acquires 2,387 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Archer Investment Corp lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 159.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,887 shares of the company’s stock after purchasing an additional 2,387 shares during the quarter. Archer Investment Corp’s holdings in Palantir Technologies were worth $328,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mechanics Financial Corp acquired a new position in Palantir Technologies during the first quarter worth $25,000. Cornerstone Planning Group LLC increased its holdings in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock valued at $33,000 after purchasing an additional 185 shares during the last quarter. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at $33,000. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company’s stock valued at $34,000 after purchasing an additional 125 shares during the last quarter. Finally, Godsey & Gibb Inc. increased its holdings in shares of Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock valued at $35,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several research reports. UBS Group reiterated a “positive” rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Morgan Stanley upped their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and an average price target of $91.37.

Palantir Technologies Trading Down 0.8%

NASDAQ PLTR traded down $1.20 during mid-day trading on Friday, hitting $152.79. The company’s stock had a trading volume of 12,289,599 shares, compared to its average volume of 83,141,351. The company’s 50 day simple moving average is $133.61 and its 200 day simple moving average is $105.61. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $155.68. The firm has a market capitalization of $360.58 billion, a price-to-earnings ratio of 664.88, a PEG ratio of 12.88 and a beta of 2.59.

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

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 3,418 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares of the company’s stock, valued at $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $53,492,400.00. Following the completion of the transaction, the insider owned 702,786 shares of the company’s stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Company Profile

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.