IAM Advisory LLC Buys New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

IAM Advisory LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,243 shares of the company’s stock, valued at approximately $865,000.

A number of other large investors have also modified their holdings of PLTR. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at $27,000. HighMark Wealth Management LLC raised 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 valued at $30,000 after purchasing an additional 166 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at $31,000. First Command Advisory Services Inc. acquired a new position in shares of Palantir Technologies in the fourth quarter valued at $34,000. Finally, Summit Securities Group LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at $34,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 3,936 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $495,817.92. Following the transaction, the insider now owns 363,755 shares in the company, valued at $45,822,217.35. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $48,988. The trade was a 99.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,894,925 shares of company stock worth $369,820,528 over the last 90 days. Insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Up 6.5%

Palantir Technologies stock opened at $127.72 on Friday. The business’s 50-day simple moving average is $110.01 and its 200 day simple moving average is $92.16. The stock has a market cap of $301.41 billion, a price-to-earnings ratio of 672.25, a P/E/G 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 $135.28.

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

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of analyst reports. Mizuho upped their price target on Palantir Technologies from $80.00 to $94.00 and gave the company an “underperform” rating in a research report on Tuesday, May 6th. Wedbush set a $140.00 price target on Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Citigroup upped their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, Loop Capital upped their price target on Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $83.95.

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.