Legacy Financial Advisors Inc. Has $1.76 Million Position in Palantir Technologies Inc. $PLTR

Legacy Financial Advisors Inc. lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,906 shares of the company’s stock after buying an additional 2,715 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Palantir Technologies were worth $1,764,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in shares of Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company’s stock worth $4,191,000 after buying an additional 6,479 shares during the last quarter. Garrison Bradford & Associates Inc. acquired a new stake in shares of Palantir Technologies during the 1st quarter worth about $45,000. Menard Financial Group LLC lifted its stake in shares of Palantir Technologies by 8.2% during the 1st quarter. Menard Financial Group LLC now owns 25,938 shares of the company’s stock worth $2,189,000 after buying an additional 1,964 shares during the last quarter. TCW Group Inc. increased its position in Palantir Technologies by 14.5% during the first quarter. TCW Group Inc. now owns 32,031 shares of the company’s stock worth $2,703,000 after acquiring an additional 4,068 shares during the period. Finally, Sagespring Wealth Partners LLC increased its position in Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company’s stock worth $2,030,000 after acquiring an additional 6,405 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on PLTR shares. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 5th. Bank of America raised their price target on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Mizuho raised shares of Palantir Technologies from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a “sell” rating to a “hold” rating and raised their price target for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Finally, Citigroup reaffirmed a “neutral” rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Two 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 currently has an average rating of “Hold” and a consensus price target of $136.61.

Palantir Technologies Stock Down 1.8%

PLTR stock opened at $174.03 on Tuesday. The firm has a market cap of $412.86 billion, a P/E ratio of 580.12, a P/E/G ratio of 9.99 and a beta of 2.60. The company’s 50-day moving average price is $151.87 and its two-hundred day moving average price is $120.39. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00.

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

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the sale, the director directly owned 62,887 shares of the company’s stock, valued at approximately $8,779,654.07. The trade was a 1.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 628,140 shares of company stock worth $84,302,509 in the last ninety days. Insiders own 12.93% of the company’s stock.

About Palantir Technologies

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.