Fortis Group Advisors LLC Purchases 2,839 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Fortis Group Advisors LLC increased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,736 shares of the company's stock after buying an additional 2,839 shares during the quarter. Fortis Group Advisors LLC's holdings in Palantir Technologies were worth $4,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mechanics Financial Corp bought a new stake in Palantir Technologies in the first quarter valued at approximately $25,000. Richardson Capital Management LLC bought a new position in shares of Palantir Technologies during the 1st quarter worth approximately $33,000. Cornerstone Planning Group LLC boosted its holdings in shares of Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after buying an additional 185 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $34,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on PLTR. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Citigroup increased their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. DA Davidson increased their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $116.00 to $135.00 in a report on Wednesday. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus target price of $91.37.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction dated 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 owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies 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 sale, the insider owned 363,755 shares of the company's stock, valued at approximately $54,563,250. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,485,632 shares of company stock worth $191,222,623. Company insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock traded down $0.47 during trading hours on Friday, hitting $153.52. 45,673,387 shares of the company's stock traded hands, compared to its average volume of 83,262,931. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $155.68. The stock has a market capitalization of $362.29 billion, a price-to-earnings ratio of 667.48, a PEG ratio of 12.88 and a beta of 2.59. The company has a fifty day simple moving average of $133.61 and a 200-day simple moving average of $105.61.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 EPS. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.