Optimist Retirement Group LLC Acquires New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Optimist Retirement Group LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, HoldingsChannel reports. The firm acquired 3,067 shares of the company’s stock, valued at approximately $259,000.

A number of other large investors also recently bought and sold shares of PLTR. Mechanics Financial Corp bought a new stake in Palantir Technologies during the 1st quarter valued at $25,000. Richardson Capital Management LLC bought a new position in shares of Palantir Technologies in the 1st quarter worth $33,000. Cornerstone Planning Group LLC raised its position in shares of Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company’s stock worth $33,000 after acquiring an additional 185 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Palantir Technologies in the 4th quarter worth $34,000. Finally, Atlantic Edge Private Wealth Management LLC raised its position in shares of Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company’s stock worth $34,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In related news, Director Eric H. Woersching sold 10,214 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director owned 2,348 shares of the company’s stock, valued at approximately $307,470.60. This represents a 81.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the sale, the director directly owned 62,887 shares in the company, valued at approximately $8,779,654.07. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,485,632 shares of company stock worth $191,222,623. Corporate insiders own 9.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Citigroup upped their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Morgan Stanley upped their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price target on the stock. Mizuho upgraded Palantir Technologies from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $116.00 to $135.00 in a research note on Wednesday. Finally, Wedbush set a $160.00 price target on Palantir Technologies in a research note on Thursday, July 10th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $91.37.

Palantir Technologies Stock Performance

PLTR opened at $153.52 on Friday. The business’s 50-day simple moving average is $134.33 and its 200-day simple moving average is $106.36. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $155.68. The stock has a market capitalization of $362.29 billion, a P/E ratio of 667.48, a price-to-earnings-growth ratio of 13.11 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 quarter in the previous year, the firm posted $0.08 EPS. The firm’s quarterly revenue was up 39.4% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal 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.