Independent Advisor Alliance Raises Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Independent Advisor Alliance boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 71.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,734 shares of the company's stock after buying an additional 40,204 shares during the quarter. Independent Advisor Alliance's holdings in Palantir Technologies were worth $8,164,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Mechanics Financial Corp purchased a new position in Palantir Technologies in the 1st quarter worth about $25,000. Richardson Capital Management LLC purchased a new position in Palantir Technologies in the 1st 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 buying an additional 185 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its position in Palantir Technologies by 45.5% in 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 during the last quarter. Finally, Godsey & Gibb Inc. raised its position in Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after buying an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $186.96 on Monday. Palantir Technologies Inc. has a 1 year low of $29.10 and a 1 year high of $187.99. The company has a 50 day simple moving average of $145.64 and a two-hundred day simple moving average of $116.13. The firm has a market cap of $441.21 billion, a P/E ratio of 623.22, a price-to-earnings-growth ratio of 10.54 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period last year, the firm posted $0.09 EPS. The company's revenue was up 48.0% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on PLTR. Royal Bank Of Canada upped their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price target for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. Bank of America upped their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price target for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. Finally, Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $136.61.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the sale, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. This trade represents a 1.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 30,000 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 363,755 shares of the company's stock, valued at approximately $63,657,125. This trade represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,515,632 shares of company stock worth $196,472,623. Insiders own 12.93% of the company's stock.

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.

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