Schechter Investment Advisors LLC Invests $428,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Schechter Investment Advisors LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,075 shares of the company's stock, valued at approximately $428,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $450,000. Proficio Capital Partners LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $522,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $386,000. Natixis Advisors LLC boosted its position in shares of Palantir Technologies by 266.6% during the 4th quarter. Natixis Advisors LLC now owns 200,683 shares of the company's stock valued at $15,178,000 after acquiring an additional 145,941 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Palantir Technologies by 17.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 26,829 shares of the company's stock valued at $2,029,000 after acquiring an additional 3,973 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PLTR. DA Davidson lifted their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $116.00 to $135.00 in a research report on Wednesday. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Finally, Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and a consensus price target of $91.37.

Insider Buying and Selling

In related news, Director Eric H. Woersching sold 10,214 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director directly owned 2,348 shares of the company's stock, valued at $307,470.60. This represents a 81.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Glazer sold 3,418 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares in the company, valued at approximately $61,987,191.63. The trade was a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock valued at $191,222,623 over the last 90 days. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

NASDAQ:PLTR traded down $1.11 during trading hours on Friday, hitting $152.88. The company had a trading volume of 18,099,744 shares, compared to its average volume of 83,159,052. The company has a market capitalization of $360.79 billion, a PE ratio of 665.80, a price-to-earnings-growth ratio of 12.88 and a beta of 2.59. The stock has a 50-day moving average price of $133.61 and a 200 day moving average price of $105.61. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $155.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. Analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.