American Trust Takes $258,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

American Trust acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,405 shares of the company's stock, valued at approximately $258,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Mackenzie Financial Corp grew its holdings in shares of Palantir Technologies by 26.8% during the 4th quarter. Mackenzie Financial Corp now owns 235,979 shares of the company's stock worth $17,847,000 after purchasing an additional 49,881 shares in the last quarter. Toronto Dominion Bank boosted its stake in Palantir Technologies by 266.2% in the fourth quarter. Toronto Dominion Bank now owns 3,932,955 shares of the company's stock valued at $297,449,000 after buying an additional 2,859,091 shares in the last quarter. Blue Sky Capital Consultants Group Inc. acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $9,380,000. Formidable Asset Management LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $457,000. Finally, North Star Asset Management Inc. lifted its stake in shares of Palantir Technologies by 33.3% in the fourth quarter. North Star Asset Management Inc. now owns 8,229 shares of the company's stock worth $622,000 after acquiring an additional 2,054 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

PLTR traded down $1.44 during midday trading on Thursday, hitting $122.32. The stock had a trading volume of 62,632,988 shares, compared to its average volume of 77,999,266. The company has a market cap of $286.88 billion, a P/E ratio of 643.82, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The business has a fifty day moving average of $104.78 and a 200 day moving average of $88.97. Palantir Technologies Inc. has a 1 year low of $20.64 and a 1 year high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates 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 6.85% and a net margin of 16.13%. The business's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 earnings per share. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PLTR. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Robert W. Baird boosted their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Mizuho lifted their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $83.95.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 39,825 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at $810,271,540.26. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's 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 transaction, the director now directly owns 61,339 shares of the company's stock, valued at $4,983,793.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,901,701 shares of company stock worth $370,407,533 over the last quarter. 9.23% of the stock is owned by corporate insiders.

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.