Cary Street Partners Financial LLC Purchases 25,778 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Cary Street Partners Financial LLC increased its stake in Palantir Technologies by 241.0%, now holding shares worth approximately $3.08 million.
• Palantir Technologies reported a 48.0% year-over-year revenue growth with earnings per share of $0.16, exceeding analyst expectations of $0.14.
• Several analysts have set target prices for Palantir shares between $165.00 and $182.00, with the consensus rating currently at "Hold".

Cary Street Partners Financial LLC boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 241.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,475 shares of the company's stock after buying an additional 25,778 shares during the quarter. Cary Street Partners Financial LLC's holdings in Palantir Technologies were worth $3,078,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mechanics Financial Corp bought a new stake in Palantir Technologies during the 1st quarter worth approximately $25,000. Cornerstone Planning Group LLC lifted its holdings in shares of Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the period. Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies in the first quarter worth $33,000. Atlantic Edge Private Wealth Management LLC grew its stake 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 purchasing an additional 125 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its holdings in Palantir Technologies by 118.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company's stock valued at $35,000 after purchasing an additional 224 shares during the period. Institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PLTR. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday. The Goldman Sachs Group boosted their target price on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday. DA Davidson set a $170.00 price objective on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday. Finally, Bank of America boosted their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $136.61.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the transaction, the insider directly owned 495,497 shares in the company, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the sale, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. This represents a 8.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,515,632 shares of company stock valued at $196,472,623. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR traded up $4.76 on Friday, hitting $186.96. 62,386,781 shares of the stock traded hands, compared to its average volume of 92,380,180. The business's fifty day moving average is $144.43 and its two-hundred day moving average is $114.82. Palantir Technologies Inc. has a 12 month low of $29.10 and a 12 month high of $187.99. The firm has a market capitalization of $441.21 billion, a price-to-earnings ratio of 623.22, a PEG ratio of 13.07 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the prior year, the company earned $0.09 EPS. The firm's quarterly revenue was up 48.0% compared to the same quarter last year. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Palantir Technologies Company 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.