Legacy Capital Group California Inc. Buys New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Legacy Capital Group California Inc. acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,465 shares of the company's stock, valued at approximately $377,000.

Several other hedge funds have also recently bought and sold shares of the company. Mechanics Financial Corp acquired a new stake in Palantir Technologies in the first quarter valued at about $25,000. Richardson Capital Management LLC bought a new position in shares of Palantir Technologies in the first quarter worth about $33,000. Cornerstone Planning Group LLC lifted its holdings in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares during the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of 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 in the last quarter. Finally, Godsey & Gibb Inc. grew its holdings in shares of Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric H. Woersching sold 10,214 shares of Palantir Technologies stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,515,632 shares of company stock worth $196,472,623. Corporate insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research analyst reports. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday. Wedbush set a $200.00 price target on Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday. Citigroup reissued a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday. Finally, Piper Sandler set a $182.00 target price on Palantir Technologies in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Stock Performance

Shares of PLTR stock traded up $4.76 on Friday, hitting $186.96. The company had a trading volume of 62,386,781 shares, compared to its average volume of 92,380,180. Palantir Technologies Inc. has a twelve month low of $29.10 and a twelve month high of $187.99. The firm has a market cap of $441.21 billion, a P/E ratio of 623.22, a P/E/G ratio of 13.07 and a beta of 2.60. The stock's 50-day moving average is $144.43 and its two-hundred day moving average is $114.82.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same period in the prior year, the business posted $0.09 earnings per share. The firm's revenue was up 48.0% on a year-over-year basis. Equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current 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.