Elios Financial Group Inc. Invests $228,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Elios Financial Group Inc. has taken a new stake in Palantir Technologies Inc. by purchasing 2,707 shares valued at approximately $228,000.
• In the last quarter, insiders sold a total of 1,485,632 shares of Palantir, which amounted to $191 million in value.
• Palantir Technologies' stock experienced a 2.6% decline recently, with shares trading at $154.27 and a market capitalization of $364 billion.

Elios Financial Group Inc. bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,707 shares of the company's stock, valued at approximately $228,000.

Other large investors have also recently made changes to their positions in the company. Mechanics Financial Corp acquired a new position in Palantir Technologies in the first quarter valued at approximately $25,000. Richardson Capital Management LLC acquired a new position in Palantir Technologies in the first quarter valued at approximately $33,000. Cornerstone Planning Group LLC boosted its holdings in Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings in Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. boosted its holdings in Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 2.6%

NASDAQ:PLTR traded down $4.08 during midday trading on Friday, reaching $154.27. The stock had a trading volume of 60,986,881 shares, compared to its average volume of 52,655,748. The firm has a fifty day simple moving average of $140.37 and a two-hundred day simple moving average of $111.96. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.89. The stock has a market cap of $364.06 billion, a P/E ratio of 670.74, a P/E/G ratio of 13.50 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting 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 for the quarter, compared to analyst estimates of $863.89 million. During the same period last year, the firm posted $0.08 EPS. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total value of $5,000,250.00. Following the completion of the sale, the insider owned 363,755 shares in the company, valued at $54,563,250. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Glazer sold 3,418 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares of the company's stock, valued at $61,987,191.63. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 in the last quarter. Corporate insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLTR. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. DA Davidson upped their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $160.00 price target on Palantir Technologies in a report on Thursday, July 10th. Loop Capital increased their price objective on Palantir Technologies from $155.00 to $178.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Piper Sandler began coverage on Palantir Technologies in a report on Friday, July 25th. They issued an "overweight" rating and a $170.00 price objective for the company. Four research 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.com, the company presently has an average rating of "Hold" and a consensus price target of $96.45.

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.