7,504 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Acquired by Finer Wealth Management Inc.

Key Points

• Finer Wealth Management Inc. has invested $633,000 in Palantir Technologies, acquiring 7,504 shares of the stock as reported in their Form 13F filing with the SEC.
• Several institutional investors increased their holdings in Palantir, with Goldman Sachs growing its position by 38.5% and Northern Trust Corp by 20.4% in the last quarter.
• Palantir reported a 48.0% year-over-year revenue increase to $1 billion for the most recent quarter, beating analyst expectations.

Finer Wealth Management Inc. acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,504 shares of the company's stock, valued at approximately $633,000.

A number of other large investors also recently bought and sold shares of the stock. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies during the first quarter worth approximately $25,000. Richardson Capital Management LLC purchased a new position in Palantir Technologies in the first quarter valued at approximately $33,000. Cornerstone Planning Group LLC grew its position 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 acquiring an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its position 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 acquiring an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. boosted its stake in shares of Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after buying an additional 370 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 research analysts recently issued reports on PLTR shares. Royal Bank Of Canada lifted their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Wall Street Zen raised Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. 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 research report on Tuesday, August 5th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald boosted their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded down $2.60 during trading hours on Wednesday, reaching $184.37. The stock had a trading volume of 53,416,270 shares, compared to its average volume of 60,256,280. The firm's 50 day moving average is $148.82 and its 200-day moving average is $117.81. The stock has a market capitalization of $435.10 billion, a price-to-earnings ratio of 614.59, a P/E/G ratio of 10.54 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $29.31 and a 1 year high of $190.00.

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

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 30,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the transaction, the insider owned 363,755 shares in the company, valued at approximately $63,657,125. This trade represents a 7.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David A. Glazer sold 3,418 shares of Palantir Technologies stock in a transaction that occurred on 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock valued at $196,472,623 in the last ninety days. 9.23% of the stock is owned by insiders.

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.