Cannon Global Investment Management LLC Buys Shares of 12,400 Palantir Technologies Inc. (NYSE:PLTR)

Cannon Global Investment Management LLC purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,400 shares of the company’s stock, valued at approximately $285,000.

Other hedge funds also recently modified their holdings of the company. West Paces Advisors Inc. boosted its stake in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares during the last quarter. Halpern Financial Inc. boosted its position in shares of Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after acquiring an additional 440 shares during the last quarter. Pacifica Partners Inc. acquired a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. Finally, First United Bank & Trust acquired a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $26,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the sale, the director now owns 32,843 shares in the company, valued at $853,918. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eric H. Woersching sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the transaction, the director now directly owns 32,843 shares of the company’s stock, valued at approximately $853,918. The disclosure for this sale can be found here. Insiders sold a total of 11,377,153 shares of company stock worth $240,054,945 over the last 90 days. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. DA Davidson raised their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Tuesday, May 7th. Mizuho raised their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Bank of America raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $35.00 price target on shares of Palantir Technologies in a research report on Monday, May 6th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.25.

Palantir Technologies Stock Up 0.4 %

Shares of PLTR traded up $0.11 during mid-day trading on Friday, reaching $25.33. 38,886,441 shares of the stock traded hands, compared to its average volume of 39,227,472. The stock has a fifty day simple moving average of $22.63 and a 200 day simple moving average of $21.48. The firm has a market cap of $56.41 billion, a price-to-earnings ratio of 211.10, a P/E/G ratio of 5.82 and a beta of 2.70. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $27.50.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $634.34 million during the quarter, compared to analyst estimates of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.