Scissortail Wealth Management LLC Buys New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Scissortail Wealth Management LLC acquired a new stake in Palantir Technologies by purchasing 2,397 shares valued at approximately $202,000 in the first quarter.
• Palantir reported a quarterly revenue of $1 billion, exceeding analyst expectations and marking a 48.0% increase compared to the same quarter last year.
• Insiders have sold a total of 1,515,632 shares of Palantir stock in the last three months, indicating notable divestment by corporate insiders.

Scissortail Wealth Management LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,397 shares of the company's stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Allegiance Financial Group Advisory Services LLC boosted its holdings in shares of Palantir Technologies by 3.0% in the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after acquiring an additional 84 shares in the last quarter. Sovran Advisors LLC boosted its holdings in shares of Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after acquiring an additional 94 shares in the last quarter. Lodestone Wealth Management LLC boosted its holdings in shares of Palantir Technologies by 1.1% in the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after acquiring an additional 97 shares in the last quarter. Continuum Advisory LLC lifted its stake in Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after purchasing an additional 98 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its stake in Palantir Technologies by 0.5% during the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock valued at $1,531,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider owned 592 shares in the company, valued at $74,822.88. This represents a 99.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the transaction, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,515,632 shares of company stock worth $196,472,623 over the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on PLTR shares. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 5th. UBS Group reissued a "neutral" rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Bank of America increased their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada increased their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Finally, Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have given 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 an average target price of $136.61.

Palantir Technologies Trading Up 2.6%

PLTR stock traded up $4.76 during midday trading on Friday, reaching $186.96. The company had a trading volume of 62,386,781 shares, compared to its average volume of 61,745,848. Palantir Technologies Inc. has a 1 year low of $29.10 and a 1 year high of $187.99. The company has a market capitalization of $441.21 billion, a P/E ratio of 623.22, a PEG ratio of 10.54 and a beta of 2.60. The company has a 50 day moving average of $145.64 and a two-hundred day moving average of $116.13.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the prior year, the business posted $0.09 EPS. Palantir Technologies's quarterly revenue was up 48.0% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies Company 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.