Spirit of America Management Corp NY Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Spirit of America Management Corp NY purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 3,500 shares of the company's stock, valued at approximately $295,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Command Advisory Services Inc. bought a new stake in shares of Palantir Technologies during the fourth quarter worth about $34,000. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth about $34,000. Fairfield Financial Advisors LTD bought a new stake in shares of Palantir Technologies during the fourth quarter worth about $35,000. Godsey & Gibb Inc. grew its holdings in Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after acquiring an additional 370 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in Palantir Technologies during the 4th quarter worth approximately $36,000. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,506,925 shares of company stock valued at $188,456,658. 9.23% of the stock is owned by company insiders.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $137.30 on Friday. The stock has a market capitalization of $324.02 billion, a price-to-earnings ratio of 596.96, a PEG ratio of 11.95 and a beta of 2.64. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $144.86. The business's fifty day moving average is $120.65 and its 200-day moving average is $97.09.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLTR. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a "buy" rating in a research note on Thursday, June 12th. Wedbush set a $140.00 price target on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. UBS Group upped their target price on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, DA Davidson upped their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and an average target price of $89.32.

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.

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