Concurrent Investment Advisors LLC Grows Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Concurrent Investment Advisors LLC lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 53.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,381 shares of the company’s stock after buying an additional 52,599 shares during the period. Concurrent Investment Advisors LLC’s holdings in Palantir Technologies were worth $12,777,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Richardson Capital Management LLC bought a new position in Palantir Technologies in the first quarter valued at about $33,000. Godsey & Gibb Inc. lifted its holdings in Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock valued at $35,000 after acquiring an additional 370 shares during the period. Arlington Trust Co LLC lifted its holdings in Palantir Technologies by 542.9% in the first quarter. Arlington Trust Co LLC now owns 450 shares of the company’s stock valued at $38,000 after acquiring an additional 380 shares during the period. Summit Securities Group LLC bought a new position in Palantir Technologies in the fourth quarter valued at about $34,000. Finally, Fairfield Financial Advisors LTD bought a new position in Palantir Technologies in the fourth quarter valued at about $35,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on PLTR shares. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. UBS Group reaffirmed a “positive” rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. The Goldman Sachs Group raised their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $89.32.

Palantir Technologies Trading Up 1.6%

Shares of PLTR opened at $134.27 on Friday. The business’s 50 day moving average is $128.47 and its 200 day moving average is $101.48. The company has a market capitalization of $316.85 billion, a PE ratio of 583.76, a price-to-earnings-growth ratio of 11.47 and a beta of 2.59. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22.

Palantir Technologies (NASDAQ:PLTR) last issued its 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 company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm’s quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the company earned $0.08 EPS. Equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares in the company, valued at $74,822.88. This trade represents a 99.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ryan D. Taylor sold 35,480 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the transaction, the insider owned 367,691 shares of the company’s stock, valued at $46,472,465.49. This represents a 8.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,497 shares of company stock worth $186,110,685 over the last three months. 9.23% of the stock is owned by company insiders.

Palantir Technologies Company 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.