Leigh Baldwin & CO. LLC Takes $209,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Leigh Baldwin & CO. LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,480 shares of the company's stock, valued at approximately $209,000.

Other institutional investors have also modified their holdings of the company. Mechanics Financial Corp purchased a new position in Palantir Technologies in the first quarter valued at $25,000. Richardson Capital Management LLC purchased a new position in Palantir Technologies in the first quarter valued at $33,000. Cornerstone Planning Group LLC boosted its holdings in Palantir Technologies by 90.2% in the first 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 period. Atlantic Edge Private Wealth Management LLC boosted its holdings in Palantir Technologies by 45.5% in the first 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 period. Finally, Godsey & Gibb Inc. boosted its holdings in Palantir Technologies by 740.0% in the first 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 period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR opened at $181.02 on Friday. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00. The company has a market capitalization of $427.19 billion, a price-to-earnings ratio of 603.42, a price-to-earnings-growth ratio of 10.39 and a beta of 2.60. The firm has a 50-day simple moving average of $150.04 and a 200-day simple moving average of $118.54.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $939.29 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The business's quarterly revenue was up 48.0% compared to the same quarter last year. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PLTR shares. Cantor Fitzgerald lifted their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. UBS Group restated a "neutral" rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Loop Capital lifted their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a 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 given a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $136.61.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 30,000 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 363,755 shares in the company, valued at approximately $63,657,125. This represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Glazer sold 3,418 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider owned 492,079 shares of the company's stock, valued at $61,987,191.63. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,515,632 shares of company stock valued at $196,472,623. Corporate insiders own 9.23% 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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