Adams Diversified Equity Fund Inc. Buys New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Adams Diversified Equity Fund Inc. purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 39,300 shares of the company's stock, valued at approximately $3,317,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp raised its position in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Norges Bank purchased a new position in Palantir Technologies in the fourth quarter valued at about $1,360,191,000. FMR LLC lifted its stake in shares of Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

NASDAQ PLTR traded down $0.33 during trading on Wednesday, reaching $142.90. 61,226,838 shares of the company traded hands, compared to its average volume of 81,189,081. The stock's 50 day moving average price is $122.49 and its two-hundred day moving average price is $98.22. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $147.59. The company has a market cap of $337.23 billion, a price-to-earnings ratio of 621.30, a P/E/G ratio of 11.94 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. The company 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 6.55% and a net margin of 18.32%. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. Equities research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock worth $188,456,658 in the last three months. Insiders own 12.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PLTR shares. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Cantor Fitzgerald upped their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. DA Davidson increased their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Morgan Stanley upped their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report 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 issued a buy rating to the company. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and an average target price of $89.32.

Palantir Technologies Company 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.