Palantir Technologies Inc. $PLTR Shares Purchased by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 230.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,661 shares of the company’s stock after acquiring an additional 3,949 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Palantir Technologies were worth $828,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Basepoint Wealth LLC bought a new position in Palantir Technologies during the 4th quarter worth approximately $29,000. Morton Brown Family Wealth LLC raised its position in shares of Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares in the last quarter. Cornerstone Financial Management LLC bought a new stake in Palantir Technologies during the fourth quarter valued at $31,000. Clayton Financial Group LLC increased its stake in Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Finally, Wexford Capital LP acquired a new stake in shares of Palantir Technologies during the third quarter worth $36,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $128.80, for a total transaction of $190,752.80. Following the completion of the transaction, the insider owned 60,226 shares of the company’s stock, valued at $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 397,744 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. This represents a 5.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 1,112,270 shares of company stock valued at $150,247,785. 9.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent research reports. Zacks Research raised shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Wolfe Research upgraded Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. Royal Bank Of Canada restated an “underperform” rating and set a $90.00 price objective on shares of Palantir Technologies in a research note on Tuesday, May 5th. President Capital upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $25.50 to $133.00 in a research report on Monday, June 29th. Finally, Phillip Securities increased their price objective on shares of Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $190.85.

Key Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: The U.S. Small Business Administration said it is expanding use of Palantir software to strengthen pandemic-fraud detection and enforcement, another example of the company winning mission-critical government work. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Coverage around Palantir’s AI platform and “ontology” technology highlighted continued enterprise adoption, supporting the case that its software is becoming more deeply embedded in customer workflows. Palantir’s Ontology Edge Is Redefining AI Software Leadership
• Positive Sentiment: Palantir also drew bullish commentary from investors and analysts who see it as a high-upside growth stock, and a report noted the shares recovered after an early dip, suggesting buyers are still stepping in on weakness. ‘One to Admire,’ Says Top Investor About Palantir Stock

Palantir Technologies Trading Up 2.8%

Palantir Technologies stock opened at $133.72 on Wednesday. The company’s 50-day moving average price is $132.36 and its two-hundred day moving average price is $145.19. The stock has a market cap of $320.57 billion, a price-to-earnings ratio of 150.25, a PEG ratio of 2.08 and a beta of 1.56. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the company earned $0.13 earnings per share. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. Research analysts expect that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.