13,960 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by Tounjian Advisory Partners LLC

Tounjian Advisory Partners LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,960 shares of the company's stock, valued at approximately $1,178,000.

Other hedge funds have also recently modified their holdings of the company. Roxbury Financial LLC purchased a new position in Palantir Technologies in the fourth quarter worth $27,000. HighMark Wealth Management LLC raised its stake in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares during the period. Sierra Ocean LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $31,000. First Command Advisory Services Inc. bought a new position in Palantir Technologies during the fourth quarter valued at about $34,000. Finally, Summit Securities Group LLC purchased a new stake in Palantir Technologies during the fourth quarter worth about $34,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Down 0.9%

Shares of PLTR stock traded down $1.20 on Thursday, reaching $135.19. The company's stock had a trading volume of 56,051,410 shares, compared to its average volume of 80,361,925. The company has a market capitalization of $319.04 billion, a P/E ratio of 711.56, a PEG ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $140.00. The stock's 50 day simple moving average is $113.13 and its 200-day simple moving average is $93.63.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the company posted $0.08 EPS. The company's revenue for the quarter was up 39.4% on a year-over-year basis. Research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $50,497.60. This trade represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,661,925 shares of company stock worth $268,580,958. 9.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald increased their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. UBS Group raised their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Morgan Stanley boosted their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $86.30.

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.