Investment Advisory Group LLC Purchases New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Investment Advisory Group LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,184 shares of the company's stock, valued at approximately $269,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Tallon Kerry Patrick purchased a new position in shares of Palantir Technologies during the 4th quarter worth about $289,000. Union Bancaire Privee UBP SA bought a new stake in Palantir Technologies in the fourth quarter worth about $15,177,000. Revolve Wealth Partners LLC bought a new stake in Palantir Technologies in the fourth quarter worth about $450,000. SOA Wealth Advisors LLC. boosted its position in shares of Palantir Technologies by 102.9% during the fourth quarter. SOA Wealth Advisors LLC. now owns 700 shares of the company's stock valued at $53,000 after buying an additional 355 shares during the period. Finally, BLB&B Advisors LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $310,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PLTR shares. The Goldman Sachs Group raised their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Mizuho lifted their target price on Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 6th. William Blair set a $84.00 price target on shares of Palantir Technologies in a report on Wednesday, March 5th. Finally, UBS Group raised their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average target price of $83.95.

Palantir Technologies Trading Up 6.5%

PLTR opened at $127.72 on Monday. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $135.28. The stock has a fifty day moving average price of $110.01 and a 200-day moving average price of $92.58. The firm has a market cap of $301.41 billion, a price-to-earnings ratio of 672.25, a PEG ratio of 10.84 and a beta of 2.64.

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

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95% decrease in their position. The disclosure for this sale can be found here. In 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 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.

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