Affinity Capital Advisors LLC Takes $389,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Affinity Capital Advisors LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 4,392 shares of the company’s stock, valued at approximately $389,000.

Several other hedge funds have also recently modified their holdings of PLTR. Tallon Kerry Patrick purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $289,000. Union Bancaire Privee UBP SA acquired a new position in Palantir Technologies during the 4th quarter worth approximately $15,177,000. Revolve Wealth Partners LLC purchased a new stake in Palantir Technologies during the 4th quarter worth approximately $450,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Palantir Technologies by 46.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,499 shares of the company’s stock valued at $13,421,000 after acquiring an additional 56,299 shares during the last quarter. Finally, Ingalls & Snyder LLC bought a new position in Palantir Technologies during the 4th quarter worth $340,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the sale, the insider now owns 592 shares in the company, valued at $51,545.44. The trade was a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,816,925 shares of company stock valued at $215,448,358 over the last three months. Insiders own 9.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PLTR. Mizuho upped their price objective on Palantir Technologies from $94.00 to $116.00 and gave the company an “underperform” rating in a report on Wednesday. The Goldman Sachs Group upped their price target on 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 upped their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $86.30.

Palantir Technologies Stock Performance

PLTR stock opened at $137.40 on Friday. The company has a market capitalization of $324.25 billion, a P/E ratio of 723.20, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $140.00. The business has a 50-day simple moving average of $115.48 and a two-hundred day simple moving average of $94.81.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. Palantir Technologies’s revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.