Beacon Capital Management LLC Buys 1,105 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Beacon Capital Management LLC lifted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 269.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,515 shares of the company’s stock after purchasing an additional 1,105 shares during the period. Beacon Capital Management LLC’s holdings in Palantir Technologies were worth $35,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. First United Bank & Trust purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $26,000. West Paces Advisors Inc. raised its stake in shares of Palantir Technologies by 110.7% in the first 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 raised its stake 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 purchasing an additional 691 shares during the last quarter. Bogart Wealth LLC raised its stake in shares of Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after purchasing an additional 1,065 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $33,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 5.5 %

Shares of NYSE:PLTR traded down $1.43 on Friday, hitting $24.65. 34,252,023 shares of the company were exchanged, compared to its average volume of 54,347,871. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $29.83. The stock’s 50 day moving average price is $25.29 and its 200 day moving average price is $23.18. The firm has a market capitalization of $54.89 billion, a P/E ratio of 200.93, a price-to-earnings-growth ratio of 6.21 and a beta of 2.71.

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

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 90,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the sale, the insider now owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider David A. Glazer sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares in the company, valued at approximately $8,749,632.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the sale, the director now owns 69,039 shares in the company, valued at $2,000,059.83. The disclosure for this sale can be found here. Insiders sold 11,447,179 shares of company stock valued at $242,285,913 over the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. Wedbush reissued an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a report on Friday. Jefferies Financial Group lifted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday. Citigroup boosted their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday. HSBC upped their target price on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Tuesday, May 7th. Seven equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $21.96.

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.