Knights of Columbus Asset Advisors LLC Purchases Shares of 18,124 Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Knights of Columbus Asset Advisors LLC purchased 18,124 shares of Palantir Technologies for approximately $1,530,000 during the 1st quarter, marking a significant investment in the company.
• Insider trading includes the sale of 35,480 shares by Ryan D. Taylor and 30,812 shares by David A. Glazer, indicating an 8.80% and 5.85% decrease in their ownership, respectively.
• Analysts maintain a consensus rating of "Hold" for Palantir Technologies, with an average target price of $95.30, despite some recent price objectives being raised by firms like Goldman Sachs and Cantor Fitzgerald.

Knights of Columbus Asset Advisors LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 18,124 shares of the company's stock, valued at approximately $1,530,000.

Other hedge funds have also bought and sold shares of the company. Mechanics Financial Corp acquired a new stake in Palantir Technologies in the 1st quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its stake in Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in Palantir Technologies in the 1st quarter valued at about $33,000. Atlantic Edge Private Wealth Management LLC lifted its stake 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 valued at $34,000 after purchasing an additional 125 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its stake in Palantir Technologies by 118.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company's stock valued at $35,000 after purchasing an additional 224 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a research report on Thursday, July 10th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. UBS Group restated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Finally, Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five 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 $95.30.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares of the company's stock, valued at $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the transaction, the insider directly owned 495,497 shares in the company, valued at $62,625,865.83. This trade represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock valued at $191,222,623 over the last three months. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Trading Up 2.5%

Shares of PLTR opened at $158.80 on Friday. The firm's 50 day moving average is $137.03 and its 200-day moving average is $108.85. The stock has a market capitalization of $374.75 billion, a PE ratio of 690.43, a P/E/G ratio of 13.22 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $160.39.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. Equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share 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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