Beacon Financial Group Purchases New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Beacon Financial Group purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,360 shares of the company's stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Tallon Kerry Patrick bought a new stake in Palantir Technologies during the 4th quarter valued at $289,000. Union Bancaire Privee UBP SA bought a new stake in Palantir Technologies during the 4th quarter valued at $15,177,000. Revolve Wealth Partners LLC bought a new stake in Palantir Technologies during the 4th quarter valued at $450,000. Mather Group LLC. raised its holdings in Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company's stock valued at $67,000 after buying an additional 448 shares during the last quarter. Finally, Trilogy Capital Inc. bought a new position in Palantir Technologies in the 4th quarter worth $330,000. 45.65% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider now owns 6,432,258 shares of the company's stock, valued at $812,973,088.62. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $50,497.60. The trade was a 99.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,894,925 shares of company stock valued at $369,820,528 in the last 90 days. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $127.72 on Friday. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $135.28. The company's 50-day moving average is $110.01 and its 200 day moving average is $92.16. The company has a market capitalization of $301.41 billion, a price-to-earnings ratio of 672.25, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. Palantir Technologies's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 EPS. As a group, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup upped 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. The Goldman Sachs Group upped 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. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective for the company. Cantor Fitzgerald upped their price objective 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. Finally, Mizuho upped their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $83.95.

About Palantir Technologies

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.