Aveo Capital Partners LLC Takes $1.76 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Aveo Capital Partners LLC has invested approximately $1.76 million in Palantir Technologies, acquiring 20,868 shares in the first quarter.
• Palantir Technologies reported a 48.0% year-over-year revenue growth with a quarterly revenue of $1 billion and earnings of $0.16 per share, surpassing analyst expectations.
• Palantir's stock has been subject to multiple analyst upgrades, with Cantor Fitzgerald and Loop Capital raising price targets and providing favorable ratings.

Aveo Capital Partners LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 20,868 shares of the company's stock, valued at approximately $1,761,000.

A number of other large investors have also recently made changes to their positions in the business. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the first quarter valued at approximately $25,000. Richardson Capital Management LLC bought a new stake in Palantir Technologies in the first quarter worth $33,000. Cornerstone Planning Group LLC boosted its holdings in Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings 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 worth $34,000 after acquiring an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. boosted its holdings in Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after acquiring an additional 370 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Up 2.6%

NASDAQ:PLTR traded up $4.76 during trading hours on Friday, hitting $186.96. 62,386,781 shares of the stock were exchanged, compared to its average volume of 61,745,848. Palantir Technologies Inc. has a 52-week low of $29.10 and a 52-week high of $187.99. The firm's fifty day moving average price is $145.64 and its 200 day moving average price is $116.13. The company has a market cap of $441.21 billion, a P/E ratio of 623.22, a P/E/G ratio of 10.54 and a beta of 2.60.

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

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 35,480 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares in the company, valued at $46,472,465.49. This represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider owned 702,786 shares in the company, valued at $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 sold a total of 1,515,632 shares of company stock valued at $196,472,623 in the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Loop Capital reissued a "buy" rating and issued a $180.00 target price (up from $178.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday. Wall Street Zen raised Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Finally, Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $136.61.

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.