Sterling Investment Advisors Ltd. Has $4.56 Million Stock Position in Palantir Technologies Inc. $PLTR

Sterling Investment Advisors Ltd. grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 35.1% during the first quarter, Holdings Channel reports. The firm owned 31,152 shares of the company’s stock after purchasing an additional 8,099 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Palantir Technologies were worth $4,557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Beaumont Financial Advisors LLC increased its position in Palantir Technologies by 2.0% during the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock worth $527,000 after buying an additional 59 shares during the last quarter. Transcend Capital Advisors LLC lifted its position in shares of Palantir Technologies by 0.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock worth $1,890,000 after buying an additional 60 shares during the last quarter. Sandbox Financial Partners LLC boosted its stake in shares of Palantir Technologies by 1.3% during the 4th quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company’s stock worth $873,000 after acquiring an additional 61 shares in the last quarter. San Luis Wealth Advisors LLC boosted its stake in shares of Palantir Technologies by 1.6% during the 4th quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock worth $726,000 after acquiring an additional 63 shares in the last quarter. Finally, Monument Capital Management raised its stake in shares of Palantir Technologies by 1.2% in the 4th quarter. Monument Capital Management now owns 5,341 shares of the company’s stock valued at $949,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider David A. Glazer sold 17,128 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares of the company’s stock, valued at approximately $51,047,921.68. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the sale, the insider owned 642,786 shares of the company’s stock, valued at approximately $87,444,607.44. The trade was a 20.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,112,270 shares of company stock valued at $150,247,785 in the last three months. Company insiders own 9.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Zacks Research upgraded Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Weiss Ratings lowered shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Mizuho reduced their price objective on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. Citigroup upped their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Argus upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.85.

Key Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: The U.S. Small Business Administration said it is expanding use of Palantir software to strengthen pandemic-fraud detection and enforcement, another example of the company winning mission-critical government work. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Coverage around Palantir’s AI platform and “ontology” technology highlighted continued enterprise adoption, supporting the case that its software is becoming more deeply embedded in customer workflows. Palantir’s Ontology Edge Is Redefining AI Software Leadership
• Positive Sentiment: Palantir also drew bullish commentary from investors and analysts who see it as a high-upside growth stock, and a report noted the shares recovered after an early dip, suggesting buyers are still stepping in on weakness. ‘One to Admire,’ Says Top Investor About Palantir Stock

Palantir Technologies Trading Up 2.8%

Shares of Palantir Technologies stock opened at $133.72 on Wednesday. The company’s fifty day simple moving average is $132.36 and its 200-day simple moving average is $145.19. The company has a market cap of $320.57 billion, a price-to-earnings ratio of 150.25, a PEG ratio of 2.08 and a beta of 1.56. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business’s revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.