Beacon Financial Advisory LLC Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Beacon Financial Advisory LLC boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 47.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,614 shares of the company's stock after buying an additional 2,133 shares during the period. Beacon Financial Advisory LLC's holdings in Palantir Technologies were worth $558,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in shares of Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after purchasing an additional 6,479 shares during the last quarter. Pitcairn Co. purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $281,000. Sagespring Wealth Partners LLC raised its holdings in shares of Palantir Technologies by 36.3% in the first 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 purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $52,033,000. Finally, CX Institutional purchased a new stake in shares of Palantir Technologies in the first quarter valued at about $62,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PLTR. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Citigroup raised their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average target price of $89.32.

Palantir Technologies Price Performance

NASDAQ:PLTR traded down $13.51 on Friday, reaching $130.74. 200,764,922 shares of the company's stock were exchanged, compared to its average volume of 82,409,392. The firm has a market cap of $308.53 billion, a price-to-earnings ratio of 568.43, a P/E/G ratio of 11.16 and a beta of 2.64. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22. The stock has a fifty day simple moving average of $125.24 and a 200-day simple moving average of $99.62.

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

Insider Activity

In related news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider now directly owns 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by company 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.