Range Financial Group LLC Acquires 19,944 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Range Financial Group LLC increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 286.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,903 shares of the company’s stock after buying an additional 19,944 shares during the period. Palantir Technologies accounts for approximately 1.0% of Range Financial Group LLC’s investment portfolio, making the stock its 26th biggest holding. Range Financial Group LLC’s holdings in Palantir Technologies were worth $2,271,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Moss Adams Wealth Advisors LLC grew its stake in shares of Palantir Technologies by 19.3% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 6,491 shares of the company’s stock valued at $548,000 after buying an additional 1,049 shares during the period. NewSquare Capital LLC boosted its stake in Palantir Technologies by 517.2% during the 1st quarter. NewSquare Capital LLC now owns 827 shares of the company’s stock valued at $70,000 after purchasing an additional 693 shares during the last quarter. Wesbanco Bank Inc. boosted its stake in Palantir Technologies by 3.7% during the 1st quarter. Wesbanco Bank Inc. now owns 9,956 shares of the company’s stock valued at $840,000 after purchasing an additional 356 shares during the last quarter. McDonough Capital Management Inc lifted its position in shares of Palantir Technologies by 80.4% during the 1st quarter. McDonough Capital Management Inc now owns 10,297 shares of the company’s stock worth $869,000 after buying an additional 4,588 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in shares of Palantir Technologies during the 1st quarter worth approximately $4,815,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on PLTR shares. Morgan Stanley lifted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Citigroup boosted their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets started coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $83.95.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 3,936 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $495,817.92. Following the completion of the sale, the insider now owns 363,755 shares of the company’s stock, valued at $45,822,217.35. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Glazer sold 3,418 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider now directly owns 492,079 shares of the company’s stock, valued at $61,987,191.63. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,894,925 shares of company stock valued at $369,820,528 over the last three months. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Trading Up 6.5%

Palantir Technologies stock opened at $127.72 on Monday. The firm has a 50-day moving average of $110.01 and a 200-day moving average of $92.58. The firm has a market cap of $301.41 billion, a P/E ratio of 672.25, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $135.28.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the business posted $0.08 earnings per share. Palantir Technologies’s revenue for the quarter was up 39.4% on a year-over-year basis. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

About Palantir Technologies

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.