Affinity Capital Advisors LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Affinity Capital Advisors LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,392 shares of the company's stock, valued at approximately $389,000.

Several other hedge funds also recently made changes to their positions in PLTR. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the fourth quarter worth $27,000. HighMark Wealth Management LLC raised its holdings in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Palantir Technologies in the fourth quarter worth about $31,000. First Command Advisory Services Inc. purchased a new stake in shares of Palantir Technologies in the 4th quarter worth about $34,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter worth about $34,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the firm's 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 transaction, the insider now directly owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,816,925 shares of company stock worth $215,448,358 over the last quarter. Insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $2.21 during trading on Friday, hitting $137.40. The company's stock had a trading volume of 93,318,005 shares, compared to its average volume of 81,017,198. The company has a 50-day moving average of $115.48 and a 200-day moving average of $94.81. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $140.00. The firm has a market cap of $324.25 billion, a price-to-earnings ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) 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 net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the business earned $0.08 EPS. The firm's revenue was up 39.4% compared to the same quarter last year. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on PLTR shares. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective on the stock. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Finally, William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $86.30.

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.