Florida Financial Advisors LLC Raises Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Florida Financial Advisors LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 153.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,870 shares of the company's stock after acquiring an additional 6,578 shares during the period. Florida Financial Advisors LLC's holdings in Palantir Technologies were worth $923,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PLTR. Richardson Capital Management LLC purchased a new position in shares of Palantir Technologies in the first quarter worth about $33,000. Cornerstone Planning Group LLC raised its position in Palantir Technologies by 90.2% in the 1st 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. Summit Securities Group LLC bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $34,000. 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, Godsey & Gibb Inc. increased its position in 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 purchasing an additional 370 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 5.0%

Palantir Technologies stock traded up $7.05 during mid-day trading on Monday, hitting $149.15. The company had a trading volume of 81,498,736 shares, compared to its average volume of 96,976,188. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $149.58. The company has a market capitalization of $351.98 billion, a price-to-earnings ratio of 648.48, a P/E/G ratio of 12.13 and a beta of 2.59. The company's fifty day moving average is $130.81 and its 200-day moving average is $103.96.

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

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 35,480 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 transaction of $4,484,317.20. Following the completion of the transaction, the insider owned 367,691 shares of the company's stock, valued at $46,472,465.49. This trade represents a 8.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,452,297 shares of company stock worth $186,222,373. Corporate insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLTR. Morgan Stanley upped their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Mizuho raised their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. DA Davidson raised their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $90.37.

About Palantir Technologies

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.