IPG Investment Advisors LLC Buys Shares of 18,009 Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• IPG Investment Advisors LLC purchased 18,009 shares of Palantir Technologies Inc. valued at approximately $1.52 million during the first quarter.
• Insiders, including Director Eric H. Woersching and insider Shyam Sankar, sold significant amounts of stock recently with total sales worth over $191 million in the last three months.
• The stock has a consensus rating of "Hold" among analysts, with a current target price of $96.45 and has shown a strong revenue increase of 39.4% compared to the same quarter last year.

IPG Investment Advisors LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,009 shares of the company's stock, valued at approximately $1,520,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of Palantir Technologies by 14.9% in the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 68,911 shares of the company's stock worth $5,816,000 after acquiring an additional 8,930 shares during the period. Clearstead Trust LLC lifted its position in shares of Palantir Technologies by 581.1% in the 1st quarter. Clearstead Trust LLC now owns 756 shares of the company's stock worth $64,000 after acquiring an additional 645 shares during the period. ING Groep NV lifted its position in shares of Palantir Technologies by 53.9% in the 1st quarter. ING Groep NV now owns 990,155 shares of the company's stock worth $83,569,000 after acquiring an additional 346,676 shares during the period. Earned Wealth Advisors LLC lifted its position in shares of Palantir Technologies by 95.8% in the 1st quarter. Earned Wealth Advisors LLC now owns 6,607 shares of the company's stock worth $558,000 after acquiring an additional 3,232 shares during the period. Finally, Raiffeisen Bank International AG bought a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $1,082,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on PLTR. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. The Goldman Sachs Group raised their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. DA Davidson raised their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $96.45.

Insider Buying and Selling

In other news, Director Eric H. Woersching sold 10,214 shares of Palantir Technologies stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the sale, the director directly owned 2,348 shares of the company's stock, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction 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 sale, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,485,632 shares of company stock worth $191,222,623. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $154.27 on Monday. The stock has a fifty day moving average price of $140.37 and a two-hundred day moving average price of $112.57. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $160.89. The company has a market cap of $364.06 billion, a price-to-earnings ratio of 670.74, a PEG ratio of 13.15 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the previous year, the company posted $0.08 EPS. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, research analysts predict 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.

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