Barnes Pettey Financial Advisors LLC Purchases New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Barnes Pettey Financial Advisors LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,965 shares of the company's stock, valued at approximately $250,000.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Pitcairn Co. bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $281,000. Sagespring Wealth Partners LLC lifted its stake in Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after purchasing an additional 6,405 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Palantir Technologies during the fourth quarter worth approximately $52,033,000. Finally, CX Institutional acquired a new position in Palantir Technologies during the first quarter worth approximately $62,000. Institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PLTR shares. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Mizuho raised their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $89.32.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded down $5.64 during mid-day trading on Tuesday, reaching $130.68. 90,961,408 shares of the company's stock were exchanged, compared to its average volume of 82,503,012. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $148.22. The firm has a market capitalization of $308.39 billion, a price-to-earnings ratio of 568.17, a PEG ratio of 11.16 and a beta of 2.64. The business's fifty day moving average price is $126.15 and its 200-day moving average price is $100.23.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business's revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 EPS. Analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 3,936 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $495,817.92. Following the transaction, the insider owned 363,755 shares in the company, valued at $45,822,217.35. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Glazer sold 3,418 shares of Palantir Technologies stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares of the company's stock, valued at $61,987,191.63. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,408,748 shares of company stock worth $180,327,603. Company insiders own 12.93% of the company's stock.

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.