Pacific Capital Partners Ltd Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Pacific Capital Partners Ltd purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,384 shares of the company's stock, valued at approximately $370,000.

Several other institutional investors and hedge funds also recently modified their holdings of PLTR. Allegiance Financial Group Advisory Services LLC boosted its stake in Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after buying an additional 84 shares in the last quarter. Sovran Advisors LLC boosted its position in shares of Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares during the period. Lodestone Wealth Management LLC boosted its position in shares of Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after purchasing an additional 97 shares during the period. Continuum Advisory LLC boosted its position in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after purchasing an additional 98 shares during the period. Finally, Kathmere Capital Management LLC boosted its position in shares of Palantir Technologies by 0.5% in the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock valued at $1,531,000 after purchasing an additional 99 shares during the period. Institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLTR. DA Davidson increased their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wedbush set a $160.00 price target on Palantir Technologies in a research report on Thursday, July 10th. Piper Sandler began coverage on Palantir Technologies in a research report on Friday, July 25th. They issued an "overweight" rating and a $170.00 price target for the company. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Finally, Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $96.45.

Palantir Technologies Price Performance

Shares of PLTR stock traded down $4.08 during trading on Friday, reaching $154.27. The company had a trading volume of 60,986,881 shares, compared to its average volume of 92,549,563. The firm's 50 day simple moving average is $139.76 and its two-hundred day simple moving average is $111.35. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $160.89. The company has a market capitalization of $364.06 billion, a PE ratio of 670.74, a PEG ratio of 13.52 and a beta of 2.59.

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

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the sale, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. The trade was a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's 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 $39,142,477.44. Following the sale, the insider owned 592 shares in the company, valued at approximately $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,485,632 shares of company stock worth $191,222,623. Insiders own 9.23% of the company's stock.

Palantir Technologies 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.