Paragon Capital Management Inc. Buys New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Paragon Capital Management Inc. purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,484 shares of the company's stock, valued at approximately $463,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Norges Bank purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $1,360,191,000. Geode Capital Management LLC grew its holdings in Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP increased its position in shares of Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. raised its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the period. Finally, Capital World Investors acquired a new position in shares of Palantir Technologies during the 4th quarter worth approximately $253,816,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Up 0.9%

Shares of NASDAQ:PLTR opened at $144.25 on Friday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The business has a fifty day moving average of $124.50 and a two-hundred day moving average of $99.02. The stock has a market cap of $340.42 billion, a P/E ratio of 627.17, a PEG ratio of 12.20 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced 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 net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric H. Woersching sold 17,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the completion of the sale, the director now directly owns 12,562 shares in the company, valued at $1,624,140.98. This trade represents a 57.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,506,925 shares of company stock worth $188,456,658. Company insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PLTR shares. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a report on Wednesday. The Goldman Sachs Group lifted their target price 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. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $89.32.

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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