46,910 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by CloudAlpha Capital Management Limited Hong Kong

Key Points

• CloudAlpha Capital Management Limited purchased 46,910 shares of Palantir Technologies Inc., valued at approximately $3,959,000, making it the 29th largest position in their portfolio.
• Palantir Technologies reported a revenue of $883.86 million for the quarter, surpassing estimates and showing a year-over-year growth of 39.4%.
• Insider sales were significant, with David A. Glazer selling 30,812 shares and Stephen Andrew Cohen selling 309,696 shares, collectively valued at over $43 million.

CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 46,910 shares of the company's stock, valued at approximately $3,959,000. Palantir Technologies makes up 0.3% of CloudAlpha Capital Management Limited Hong Kong's investment portfolio, making the stock its 29th largest position.

A number of other institutional investors have also made changes to their positions in PLTR. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Northern Trust Corp lifted its holdings in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after buying an additional 3,299,779 shares during the period. Norges Bank bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $1,360,191,000. FMR LLC lifted its position 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 acquiring an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. increased its holdings 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.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider owned 6,432,258 shares of the company's stock, valued at $812,973,088.62. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the sale, the insider directly owned 495,497 shares of the company's stock, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,485,632 shares of company stock worth $191,222,623 over the last quarter. Company insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PLTR. Citigroup upped their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Finally, Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus target price of $95.30.

Palantir Technologies Stock Down 1.3%

PLTR traded down $2.06 during trading on Monday, reaching $156.74. 35,390,932 shares of the company were exchanged, compared to its average volume of 93,597,672. The company has a market cap of $369.90 billion, a price-to-earnings ratio of 679.79, a P/E/G ratio of 13.54 and a beta of 2.59. The company's 50-day moving average is $137.03 and its two-hundred day moving average is $109.42. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.39.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period last year, the company earned $0.08 EPS. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.