Sterling Investment Advisors Ltd. Has $1.64 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Sterling Investment Advisors Ltd. increased its holdings in Palantir Technologies by 222.0% during Q1, owning 19,389 shares worth $1,636,000 by the quarter's end.
• Palantir's stock has seen significant fluctuations, with a 1-year low of $21.23 and a high of $160.39, currently trading at $158.80.
• Analysts have mixed ratings on Palantir, with a consensus rating of "Hold" and a price target of $95.30, reflecting varying perspectives on its future performance.

Sterling Investment Advisors Ltd. boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 222.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,389 shares of the company's stock after purchasing an additional 13,367 shares during the period. Sterling Investment Advisors Ltd.'s holdings in Palantir Technologies were worth $1,636,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mechanics Financial Corp bought a new position in Palantir Technologies in the first quarter worth about $25,000. Richardson Capital Management LLC acquired a new position in Palantir Technologies in the first quarter worth approximately $33,000. Cornerstone Planning Group LLC grew its position in Palantir Technologies by 90.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares in the last quarter. Summit Securities Group LLC purchased a new position in Palantir Technologies during the 4th quarter worth approximately $34,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after buying an additional 125 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLTR. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Piper Sandler initiated coverage on shares of Palantir Technologies in a report on Friday, July 25th. They issued an "overweight" rating and a $170.00 price objective on the stock. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $96.45.

Palantir Technologies Trading Up 1.2%

Shares of Palantir Technologies stock traded up $1.90 during trading hours on Wednesday, reaching $158.14. The stock had a trading volume of 23,280,070 shares, compared to its average volume of 92,975,391. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $160.39. The firm has a market capitalization of $373.18 billion, a price-to-earnings ratio of 689.76, a P/E/G ratio of 13.46 and a beta of 2.59. The firm has a 50 day simple moving average of $138.27 and a two-hundred day simple moving average of $110.37.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released 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. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 358,982 shares of the company'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 $45,371,734.98. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock worth $191,222,623 in the last ninety days. 12.93% of the stock is owned by 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.