Arbor Trust Wealth Advisors LLC Takes $536,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Arbor Trust Wealth Advisors LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,350 shares of the company's stock, valued at approximately $536,000.

Several other hedge funds also recently modified their holdings of the stock. Sovran Advisors LLC raised its holdings in shares of Palantir Technologies by 1.8% during the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after buying an additional 94 shares in the last quarter. Continuum Advisory LLC grew its position in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after acquiring an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA raised its stake in Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after acquiring an additional 111 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company's stock worth $38,000 after acquiring an additional 114 shares during the last quarter. Finally, Gemmer Asset Management LLC boosted its stake in shares of Palantir Technologies by 1.6% in the 1st quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock valued at $639,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLTR. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Citigroup upped their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Mizuho increased their price target on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research note on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Loop Capital set a $155.00 target price on Palantir Technologies and gave the stock a "buy" rating in a report on Thursday, June 12th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies Stock Up 1.6%

Palantir Technologies stock traded up $2.15 during mid-day trading on Friday, hitting $134.27. 41,812,483 shares of the stock were exchanged, compared to its average volume of 82,906,073. The stock has a market capitalization of $316.85 billion, a price-to-earnings ratio of 583.76, a PEG ratio of 11.28 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $148.22. The firm's fifty day simple moving average is $128.04 and its two-hundred day simple moving average is $101.06.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the firm earned $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 3,418 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction 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 trade represents a 0.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,451,497 shares of company stock valued at $186,110,685 in the last 90 days. Company insiders own 9.23% of the company's stock.

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.