Checchi Capital Advisers LLC Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Checchi Capital Advisers LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,700 shares of the company’s stock after buying an additional 292 shares during the period. Checchi Capital Advisers LLC’s holdings in Palantir Technologies were worth $312,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PLTR. Richardson Capital Management LLC purchased a new position in Palantir Technologies in the 1st quarter worth approximately $33,000. Summit Securities Group LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $34,000. Fairfield Financial Advisors LTD purchased a new position in Palantir Technologies in the 4th quarter worth approximately $35,000. Godsey & Gibb Inc. lifted its holdings in Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company’s stock worth $35,000 after purchasing an additional 370 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in Palantir Technologies in the 4th quarter worth approximately $36,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the company’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 $39,142,477.44. Following the transaction, the insider owned 592 shares of the company’s stock, valued at $74,822.88. This represents a 99.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of the company’s stock in a transaction 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 completion of the transaction, the insider directly owned 367,691 shares in the company, valued at $46,472,465.49. This trade 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 ninety days. Corporate insiders own 9.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PLTR shares. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Citigroup lifted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Mizuho lifted their price objective on Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 11th. UBS Group reaffirmed a “positive” rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Finally, Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $89.32.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $134.27 on Friday. The company has a market cap of $316.85 billion, a P/E ratio of 583.76, a P/E/G ratio of 11.47 and a beta of 2.59. The business’s 50 day moving average price is $128.47 and its 200-day moving average price is $101.68. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 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%. Palantir Technologies’s quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.