Conway Capital Management Inc. Purchases New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Conway Capital Management Inc. acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,055 shares of the company's stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PLTR. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the 4th quarter worth about $27,000. HighMark Wealth Management LLC raised its position in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Palantir Technologies during the 4th quarter worth $31,000. First Command Advisory Services Inc. acquired a new position in Palantir Technologies in the fourth quarter valued at $34,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ryan D. Taylor sold 98,177 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Up 2.9%

Shares of NASDAQ:PLTR traded up $4.01 during midday trading on Monday, reaching $141.41. 80,082,439 shares of the company were exchanged, compared to its average volume of 81,013,778. The firm has a market cap of $333.72 billion, a PE ratio of 744.30, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.74. The stock has a fifty day simple moving average of $115.48 and a two-hundred day simple moving average of $95.01.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the company posted $0.08 earnings per share. The company's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PLTR. Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Morgan Stanley boosted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Finally, Cantor Fitzgerald upped their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $86.30.

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.