Barnes Pettey Financial Advisors LLC Takes $250,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Barnes Pettey Financial Advisors 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 and Exchange Commission. The firm bought 2,965 shares of the company's stock, valued at approximately $250,000.

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

Palantir Technologies Trading Up 4.3%

NASDAQ PLTR traded up $5.58 during midday trading on Monday, hitting $136.32. The company had a trading volume of 96,980,669 shares, compared to its average volume of 82,469,020. The firm has a 50-day moving average price of $126.15 and a 200-day moving average price of $100.23. The company has a market capitalization of $321.70 billion, a PE ratio of 592.70, a P/E/G ratio of 11.16 and a beta of 2.64. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $148.22.

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

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction that occurred 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 sale, the insider owned 592 shares in the company, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $46,472,465.49. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,408,748 shares of company stock worth $180,327,603. 12.93% of the stock is owned by company insiders.

Analyst Ratings Changes

PLTR has been the topic of a number of analyst reports. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Mizuho lifted their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $89.32.

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.