Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 53.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,381 shares of the company's stock after purchasing an additional 52,599 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Palantir Technologies were worth $12,777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PLTR. HM Payson & Co. grew its stake in Palantir Technologies by 170.7% in the first quarter. HM Payson & Co. now owns 961 shares of the company's stock valued at $81,000 after purchasing an additional 606 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Palantir Technologies by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock valued at $1,099,861,000 after purchasing an additional 187,860 shares during the last quarter. World Investment Advisors grew its stake in Palantir Technologies by 1.6% in the first quarter. World Investment Advisors now owns 22,498 shares of the company's stock valued at $1,899,000 after purchasing an additional 354 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Palantir Technologies in the first quarter valued at about $63,000. Finally, Capital Investment Advisory Services LLC grew its stake in Palantir Technologies by 100.2% in the first quarter. Capital Investment Advisory Services LLC now owns 24,550 shares of the company's stock valued at $2,072,000 after purchasing an additional 12,286 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

PLTR stock traded up $2.15 during trading on Friday, hitting $134.27. 41,812,483 shares of the company traded hands, compared to its average volume of 83,051,463. The stock's 50-day simple moving average is $128.47 and its 200 day simple moving average is $101.48. The company has a market cap of $316.85 billion, a PE ratio of 1,119.67, a P/E/G ratio of 11.47 and a beta of 2.59. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business'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 earnings per share. Research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In related news, insider Ryan D. Taylor sold 33,335 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the completion of the sale, the insider directly owned 363,755 shares in the company, valued at approximately $49,219,689.05. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric H. Woersching sold 10,214 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director owned 2,348 shares of the company's stock, valued at $307,470.60. The trade was a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,451,497 shares of company stock valued at $186,110,685 in the last three months. Company insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of several research analyst reports. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. DA Davidson boosted their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Citigroup boosted their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $89.32.

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.