Archford Capital Strategies LLC Purchases 1,903 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Archford Capital Strategies LLC increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,724 shares of the company's stock after acquiring an additional 1,903 shares during the period. Archford Capital Strategies LLC's holdings in Palantir Technologies were worth $2,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC grew its holdings in shares of Palantir Technologies by 73.0% during the first quarter. Fourth Dimension Wealth LLC now owns 1,325 shares of the company's stock worth $112,000 after purchasing an additional 559 shares during the last quarter. Cornerstone Wealth Group LLC increased its position in Palantir Technologies by 8.3% in the 1st quarter. Cornerstone Wealth Group LLC now owns 4,341 shares of the company's stock valued at $366,000 after acquiring an additional 331 shares in the last quarter. Petros Family Wealth LLC bought a new position in shares of Palantir Technologies in the first quarter worth about $273,000. YHB Investment Advisors Inc. lifted its position in shares of Palantir Technologies by 115.0% during the first quarter. YHB Investment Advisors Inc. now owns 8,438 shares of the company's stock worth $712,000 after purchasing an additional 4,513 shares in the last quarter. Finally, Embree Financial Group grew its stake in shares of Palantir Technologies by 6.0% during the first quarter. Embree Financial Group now owns 25,715 shares of the company's stock valued at $2,170,000 after purchasing an additional 1,449 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 2.4%

Palantir Technologies stock opened at $143.23 on Wednesday. The company has a 50 day moving average of $122.49 and a 200-day moving average of $98.22. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $144.86. The stock has a market capitalization of $338.01 billion, a PE ratio of 622.74, a price-to-earnings-growth ratio of 11.94 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the firm posted $0.08 EPS. The firm's revenue was up 39.4% compared to the same quarter last year. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PLTR shares. Morgan Stanley boosted their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a "buy" rating in a research note on Thursday, June 12th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three 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 a consensus price target of $89.32.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the sale, the insider now directly owns 592 shares in the company, valued at $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,506,925 shares of company stock worth $188,456,658. 12.93% of the stock is owned by corporate insiders.

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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