3,470 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by Pandora Wealth Inc.

Key Points

• Pandora Wealth Inc. has acquired a new position in Palantir Technologies Inc., purchasing 3,470 shares valued at approximately $293,000.
• In the first quarter, several institutional investors significantly increased their stakes in Palantir Technologies, indicating growing interest in the stock.
• Insider trading reports show that company insiders sold over 1.5 million shares in the last ninety days, reflecting a decrease in their ownership percentages.

Pandora Wealth Inc. purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,470 shares of the company's stock, valued at approximately $293,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mechanics Financial Corp bought a new stake in Palantir Technologies in the first quarter worth about $25,000. Richardson Capital Management LLC bought a new stake in Palantir Technologies in the first quarter worth about $33,000. Cornerstone Planning Group LLC lifted its stake in Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after purchasing an additional 125 shares during the last quarter. Finally, Godsey & Gibb Inc. lifted its stake in Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after purchasing an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the transaction, the insider directly owned 592 shares of the company's stock, valued at approximately $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the transaction, the insider directly owned 495,497 shares in the company, valued at $62,625,865.83. This represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,515,632 shares of company stock valued at $196,472,623. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Stock Up 2.6%

Shares of PLTR stock opened at $186.96 on Friday. The firm has a market cap of $441.21 billion, a price-to-earnings ratio of 623.22, a PEG ratio of 11.57 and a beta of 2.60. The company's 50 day moving average is $145.64 and its 200 day moving average is $115.61. Palantir Technologies Inc. has a 52-week low of $29.10 and a 52-week high of $187.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same period in the previous year, the company earned $0.09 earnings per share. The business's revenue for the quarter was up 48.0% on a year-over-year basis. Analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PLTR. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their target price for the stock from $80.00 to $160.00 in a research report on Tuesday. Citigroup reaffirmed a "neutral" rating and set a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday. Royal Bank Of Canada raised their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday. Finally, Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $136.61.

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.

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