IAM Advisory LLC Acquires Shares of 10,243 Palantir Technologies Inc. (NASDAQ:PLTR)

IAM Advisory LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,243 shares of the company's stock, valued at approximately $865,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prospect Financial Services LLC grew its holdings in Palantir Technologies by 0.7% in the first quarter. Prospect Financial Services LLC now owns 37,353 shares of the company's stock valued at $3,153,000 after purchasing an additional 272 shares during the period. AGH Wealth Advisors LLC purchased a new stake in Palantir Technologies in the first quarter valued at approximately $278,000. Kapstone Financial Advisors LLC grew its holdings in Palantir Technologies by 1.1% in the first quarter. Kapstone Financial Advisors LLC now owns 37,253 shares of the company's stock valued at $3,144,000 after purchasing an additional 411 shares during the period. Stablepoint Partners LLC grew its holdings in Palantir Technologies by 1.4% in the first quarter. Stablepoint Partners LLC now owns 9,651 shares of the company's stock valued at $815,000 after purchasing an additional 131 shares during the period. Finally, Insight Advisors LLC PA grew its stake in Palantir Technologies by 14.3% during the first quarter. Insight Advisors LLC PA now owns 7,568 shares of the company's stock worth $639,000 after buying an additional 949 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 3,936 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $495,817.92. Following the completion of the transaction, the insider now owns 363,755 shares in the company, valued at $45,822,217.35. This represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares of the company's stock, valued at $48,988. This represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,894,925 shares of company stock worth $369,820,528. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Up 6.5%

PLTR stock traded up $7.81 during trading on Friday, hitting $127.72. 86,933,462 shares of the company's stock traded hands, compared to its average volume of 79,889,951. The stock has a fifty day moving average price of $110.01 and a two-hundred day moving average price of $92.16. The stock has a market capitalization of $301.41 billion, a price-to-earnings ratio of 672.25, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $135.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research note on Wednesday, March 5th. Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, DA Davidson boosted their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average price target of $83.95.

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.