Alexander Labrunerie & CO. Inc. Invests $242,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Alexander Labrunerie & CO. Inc. acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,870 shares of the company's stock, valued at approximately $242,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mechanics Financial Corp bought a new stake in Palantir Technologies in the first quarter valued at about $25,000. Richardson Capital Management LLC bought a new stake in Palantir Technologies in the first quarter valued at about $33,000. Cornerstone Planning Group LLC increased 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 valued at $33,000 after acquiring an additional 185 shares during the period. Summit Securities Group LLC bought a new stake in Palantir Technologies in the fourth quarter valued at about $34,000. Finally, Atlantic Edge Private Wealth Management LLC increased 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 valued at $34,000 after acquiring an additional 125 shares during the period. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Up 0.2%

PLTR stock opened at $154.32 on Friday. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $155.68. The firm has a market cap of $364.18 billion, a P/E ratio of 668.24, a P/E/G ratio of 12.88 and a beta of 2.59. The company's 50-day moving average price is $133.61 and its two-hundred day moving average price is $105.61.

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, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period last year, the firm earned $0.08 EPS. The business's quarterly revenue was up 39.4% compared to the same quarter last year. Equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the transaction, the insider owned 367,691 shares in the company, valued at $46,472,465.49. The trade was a 8.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider owned 592 shares in the company, valued at $74,822.88. The trade was a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock worth $191,222,623 over the last 90 days. 9.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLTR shares. Morgan Stanley upped their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a report on Thursday, July 10th. DA Davidson increased their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $91.37.

Palantir Technologies 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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