AlphaCore Capital LLC Acquires New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

AlphaCore Capital LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,487 shares of the company's stock, valued at approximately $210,000.

A number of other large investors also recently bought and sold shares of PLTR. Allegiance Financial Group Advisory Services LLC grew its position in Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after buying an additional 84 shares during the last quarter. Sovran Advisors LLC grew its position in Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after buying an additional 94 shares during the last quarter. Lodestone Wealth Management LLC grew its position in Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after buying an additional 97 shares during the last quarter. Continuum Advisory LLC grew its position in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after buying an additional 98 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its position in Palantir Technologies by 0.5% in the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock valued at $1,531,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 30,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the sale, the insider directly owned 363,755 shares of the company's stock, valued at $63,657,125. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Glazer sold 3,418 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares in the company, valued at $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock valued at $196,472,623 over the last three months. 12.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of analyst reports. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Bank of America lifted their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 5th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Finally, DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Stock Up 2.6%

Shares of PLTR opened at $186.96 on Monday. The business's 50 day moving average is $145.64 and its two-hundred day moving average is $116.13. Palantir Technologies Inc. has a 52-week low of $29.10 and a 52-week high of $187.99. The firm has a market cap of $441.21 billion, a price-to-earnings ratio of 623.22, a PEG ratio of 10.54 and a beta of 2.60.

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

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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