Palantir Technologies Inc. $PLTR Shares Acquired by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 230.7% during the first quarter, Holdings Channel reports. The firm owned 5,661 shares of the company’s stock after purchasing an additional 3,949 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Palantir Technologies were worth $828,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Beaumont Financial Advisors LLC increased its stake in Palantir Technologies by 2.0% in the 4th quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock worth $527,000 after purchasing an additional 59 shares in the last quarter. Transcend Capital Advisors LLC increased its position in shares of Palantir Technologies by 0.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock worth $1,890,000 after acquiring an additional 60 shares in the last quarter. Sandbox Financial Partners LLC raised its holdings in shares of Palantir Technologies by 1.3% during the fourth quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company’s stock valued at $873,000 after acquiring an additional 61 shares during the period. San Luis Wealth Advisors LLC raised its holdings in shares of Palantir Technologies by 1.6% during the fourth quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock valued at $726,000 after acquiring an additional 63 shares during the period. Finally, Monument Capital Management lifted its position in shares of Palantir Technologies by 1.2% in the 4th quarter. Monument Capital Management now owns 5,341 shares of the company’s stock valued at $949,000 after acquiring an additional 63 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on PLTR shares. BTIG Research cut shares of Palantir Technologies to a “neutral” rating in a research report on Tuesday, June 16th. Cantor Fitzgerald reissued a “neutral” rating and set a $138.00 price target on shares of Palantir Technologies in a research report on Friday, May 22nd. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $205.00 to $151.00 in a research note on Friday, May 1st. Royal Bank Of Canada restated an “underperform” rating and set a $90.00 price objective on shares of Palantir Technologies in a research report on Tuesday, May 5th. Finally, Argus upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.85.

Palantir Technologies News Summary

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: The U.S. Small Business Administration said it is expanding use of Palantir software to strengthen pandemic-fraud detection and enforcement, another example of the company winning mission-critical government work. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Coverage around Palantir’s AI platform and “ontology” technology highlighted continued enterprise adoption, supporting the case that its software is becoming more deeply embedded in customer workflows. Palantir’s Ontology Edge Is Redefining AI Software Leadership
• Positive Sentiment: Palantir also drew bullish commentary from investors and analysts who see it as a high-upside growth stock, and a report noted the shares recovered after an early dip, suggesting buyers are still stepping in on weakness. ‘One to Admire,’ Says Top Investor About Palantir Stock

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,481 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the sale, the insider directly owned 60,226 shares of the company’s stock, valued at $7,757,108.80. The trade was a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen Andrew Cohen sold 319,934 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the transaction, the insider owned 592 shares in the company, valued at approximately $80,535.68. This trade represents a 99.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 1,112,270 shares of company stock valued at $150,247,785. Insiders own 9.53% of the company’s stock.

Palantir Technologies Price Performance

PLTR opened at $133.72 on Wednesday. The company has a market capitalization of $320.57 billion, a PE ratio of 150.25, a price-to-earnings-growth ratio of 2.08 and a beta of 1.56. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52. The business has a 50-day moving average of $132.36 and a 200-day moving average of $145.19.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the business posted $0.13 EPS. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. On average, equities research analysts expect that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Palantir Technologies Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.