Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by Pin Oak Investment Advisors Inc.

Key Points

• Pin Oak Investment Advisors Inc. increased its stake in Palantir Technologies Inc. by 132.8% during the first quarter, holding 19,456 shares worth approximately $1.79 million.
• Several other institutional investors also increased their positions, with hedge funds collectively owning 45.65% of Palantir's stock.
• In insider trading news, executives Alexander C. Karp and Shyam Sankar sold significant amounts of shares, leading to a notable decrease in their ownership percentages.

Pin Oak Investment Advisors Inc. grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 132.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,456 shares of the company's stock after buying an additional 11,100 shares during the quarter. Palantir Technologies comprises 1.4% of Pin Oak Investment Advisors Inc.'s investment portfolio, making the stock its 19th biggest holding. Pin Oak Investment Advisors Inc.'s holdings in Palantir Technologies were worth $1,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies in the first quarter worth $25,000. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies in the first quarter worth $33,000. Cornerstone Planning Group LLC raised its holdings in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth $34,000. Finally, Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after acquiring an additional 125 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 0.3%

Shares of NASDAQ:PLTR traded down $0.48 during trading on Thursday, hitting $158.13. 31,927,261 shares of the company traded hands, compared to its average volume of 92,659,711. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $160.89. The stock has a market capitalization of $373.18 billion, a price-to-earnings ratio of 687.98, a PEG ratio of 13.32 and a beta of 2.59. The business's fifty day moving average is $139.03 and its 200-day moving average is $110.71.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting 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 period in the prior year, the company posted $0.08 EPS. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of analyst reports. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. DA Davidson boosted their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Loop Capital boosted their price target on Palantir Technologies from $155.00 to $178.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Morgan Stanley lifted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $96.45.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 405,000 shares of the 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 directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares of the company's stock, valued at $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,485,632 shares of company stock worth $191,222,623. 9.23% of the stock is owned by company insiders.

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.