Optimist Retirement Group LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Optimist Retirement Group LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,067 shares of the company's stock, valued at approximately $259,000.

Several other hedge funds have also recently made changes to their positions in PLTR. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies during the 1st quarter valued at approximately $25,000. Richardson Capital Management LLC acquired a new stake in Palantir Technologies in the 1st quarter valued at approximately $33,000. Cornerstone Planning Group LLC increased its holdings 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. Summit Securities Group LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at approximately $34,000. Finally, Atlantic Edge Private Wealth Management LLC increased its holdings 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. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PLTR shares. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wedbush set a $160.00 price target on shares of Palantir Technologies in a research report on Thursday, July 10th. Finally, DA Davidson boosted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $91.37.

Palantir Technologies Stock Down 0.3%

PLTR stock opened at $153.52 on Friday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $155.68. The firm has a market capitalization of $362.29 billion, a PE ratio of 667.48, a PEG ratio of 13.11 and a beta of 2.59. The stock has a 50-day simple moving average of $134.33 and a two-hundred day simple moving average of $106.36.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $150.00, for a total value of $5,000,250.00. Following the completion of the transaction, the insider directly owned 363,755 shares in the company, valued at $54,563,250. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is currently owned by corporate insiders.

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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