Brucke Financial Inc. Acquires New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Brucke Financial Inc. acquired a new stake in Palantir Technologies Inc., purchasing 3,518 shares valued at approximately $297,000 in the first quarter.
• Palantir Technologies reported a 39.4% increase in revenue year-over-year, reaching $883.86 million, while hitting consensus EPS expectations of $0.13.
• Insider trading activity included significant sales by company executives, with insiders selling a total of 1,485,632 shares worth over $191 million in the past ninety days.

Brucke Financial Inc. acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,518 shares of the company's stock, valued at approximately $297,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLTR. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies in the first quarter worth about $25,000. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies in the first quarter worth about $33,000. Cornerstone Planning Group LLC lifted its position in shares of 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 buying an additional 185 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth about $34,000. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in shares of 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 buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PLTR. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Citigroup boosted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Wedbush set a $160.00 price objective on Palantir Technologies in a research report on Thursday, July 10th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $95.30.

Palantir Technologies Trading Down 0.6%

PLTR stock opened at $157.88 on Tuesday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $160.39. The firm has a market cap of $372.58 billion, a P/E ratio of 686.43, a P/E/G ratio of 13.54 and a beta of 2.59. The business's 50 day moving average is $137.66 and its 200-day moving average is $110.05.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction that occurred 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 directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock worth $191,222,623 over the last ninety days. 9.23% of the stock is owned by 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.

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