Pinnacle Wealth Management Advisory Group LLC Invests $292,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Pinnacle Wealth Management Advisory Group LLC acquired 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 SEC. The firm acquired 3,465 shares of the company's stock, valued at approximately $292,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies in the first quarter valued at about $25,000. Cornerstone Planning Group LLC increased its position 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 valued at $33,000 after acquiring an additional 185 shares during the period. Richardson Capital Management LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at about $33,000. Atlantic Edge Private Wealth Management LLC increased its position 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 valued at $34,000 after acquiring an additional 125 shares during the period. Finally, CBIZ Investment Advisory Services LLC increased its position in shares of Palantir Technologies by 118.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company's stock valued at $35,000 after acquiring an additional 224 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 2.6%

Shares of NASDAQ:PLTR traded down $4.08 during midday trading on Friday, reaching $154.27. 60,986,881 shares of the company were exchanged, compared to its average volume of 92,549,563. The business's fifty day moving average is $139.76 and its two-hundred day 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 stock has a market cap of $364.06 billion, a PE ratio of 670.74, a price-to-earnings-growth ratio of 13.52 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting 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 business earned $0.08 earnings per share. Palantir Technologies's revenue for the quarter was up 39.4% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction dated 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 trade represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 over the last ninety days. Corporate insiders own 9.23% of the company's stock.

Analyst Ratings Changes

PLTR has been the topic of a number of research reports. Loop Capital lifted their target price on shares of Palantir Technologies from $155.00 to $178.00 and gave the company a "buy" rating in a research note on Wednesday. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. Morgan Stanley boosted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus target price of $96.45.

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.