Legacy Financial Strategies LLC Acquires 2,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Legacy Financial Strategies LLC boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 27.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 9,329 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Legacy Financial Strategies LLC’s holdings in Palantir Technologies were worth $787,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PLTR. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. HighMark Wealth Management LLC grew its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares during the period. Sierra Ocean LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $31,000. R Squared Ltd bought a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $33,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $34,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research analyst reports. DA Davidson lifted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Loop Capital lifted their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Mizuho raised their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective on the stock. Finally, Daiwa America raised shares of Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.95.

Palantir Technologies Trading Up 3.5%

NASDAQ PLTR opened at $126.63 on Friday. Palantir Technologies Inc. has a 12 month low of $21.01 and a 12 month high of $133.49. The stock has a market cap of $298.84 billion, a price-to-earnings ratio of 666.51, a PEG ratio of 10.84 and a beta of 2.68. The company’s 50 day moving average is $105.90 and its two-hundred day moving average is $89.86.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 earnings per share. Sell-side analysts forecast 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 Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now owns 592 shares in the company, valued at $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies 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 $45,371,734.98. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,901,701 shares of company stock worth $370,407,533 over the last quarter. Insiders own 9.23% 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.