Concurrent Investment Advisors LLC Increases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sovran Advisors LLC boosted its holdings in Palantir Technologies by 1.8% during the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company’s stock valued at $460,000 after acquiring an additional 94 shares during the period. Lodestone Wealth Management LLC boosted its holdings in Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company’s stock valued at $755,000 after acquiring an additional 97 shares during the period. Continuum Advisory LLC boosted its holdings in Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after acquiring an additional 98 shares during the period. Heritage Wealth Management Inc. CA boosted its holdings in Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares during the period. Finally, True Wealth Design LLC boosted its holdings in Palantir Technologies by 29.3% during the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after acquiring an additional 114 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander C. Karp sold 358,982 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,451,497 shares of company stock worth $186,110,685. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Trading Up 1.6%

PLTR opened at $134.27 on Friday. The firm has a market cap of $316.85 billion, a price-to-earnings ratio of 583.76, a PEG 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. The stock has a fifty day moving average price of $128.47 and a 200-day moving average price of $101.48.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Daiwa America upgraded Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Wedbush set a $140.00 target price on Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $89.32.

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.