Paragon Advisors LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Paragon Advisors LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,748 shares of the company's stock, valued at approximately $2,089,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PLTR. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at $27,000. HighMark Wealth Management LLC lifted its stake in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares during the period. Sierra Ocean LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $31,000. First Command Advisory Services Inc. acquired a new stake in Palantir Technologies during the fourth quarter worth approximately $34,000. Finally, Summit Securities Group LLC bought a new stake in Palantir Technologies in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Up 0.6%

PLTR stock traded up $0.75 during midday trading on Tuesday, hitting $132.81. The company's stock had a trading volume of 69,112,277 shares, compared to its average volume of 79,997,306. The stock has a market cap of $313.42 billion, a price-to-earnings ratio of 699.04, a PEG ratio of 10.84 and a beta of 2.64. The stock's 50-day moving average price is $110.90 and its 200 day moving average price is $93.06. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $135.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm's quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $50,497.60. This represents a 99.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 39,825 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at $810,271,540.26. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,894,925 shares of company stock valued at $369,820,528. 9.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLTR shares. The Goldman Sachs Group lifted their price objective 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. DA Davidson increased their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Mizuho raised their price objective on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research note on Tuesday, May 6th. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and a consensus price target of $83.95.

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.