Flagship Harbor Advisors LLC Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Flagship Harbor Advisors LLC increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,191 shares of the company's stock after buying an additional 6,451 shares during the quarter. Flagship Harbor Advisors LLC's holdings in Palantir Technologies were worth $2,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Prairie Wealth Advisors Inc. grew its stake in Palantir Technologies by 4.1% during the 1st quarter. Prairie Wealth Advisors Inc. now owns 10,584 shares of the company's stock worth $893,000 after buying an additional 414 shares during the last quarter. Madison Wealth Partners Inc purchased a new stake in Palantir Technologies during the 1st quarter valued at about $277,000. EWA LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at about $257,000. Atticus Wealth Management LLC grew its stake in Palantir Technologies by 20.5% during the 1st quarter. Atticus Wealth Management LLC now owns 1,081 shares of the company's stock valued at $91,000 after purchasing an additional 184 shares during the last quarter. Finally, Integrity Wealth Solutions LLC grew its stake in Palantir Technologies by 26.6% during the 1st quarter. Integrity Wealth Solutions LLC now owns 4,158 shares of the company's stock valued at $351,000 after purchasing an additional 874 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

NASDAQ PLTR traded down $0.33 during trading hours on Wednesday, reaching $142.90. The company's stock had a trading volume of 61,226,838 shares, compared to its average volume of 81,396,001. The firm has a market capitalization of $337.23 billion, a price-to-earnings ratio of 621.30, a P/E/G ratio of 12.23 and a beta of 2.64. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $147.67. The company's 50-day moving average is $123.49 and its two-hundred day moving average is $98.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The company 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%. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target on the stock. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Mizuho boosted their price target on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research note on Wednesday, June 11th. Finally, The Goldman Sachs Group boosted their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average target price of $89.32.

Insiders Place Their Bets

In other Palantir Technologies 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 transaction of $53,492,400.00. Following the completion of the sale, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,506,925 shares of company stock worth $188,456,658. Corporate insiders own 9.23% of the company's stock.

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.