Sanibel Captiva Trust Company Inc. Invests $469,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Sanibel Captiva Trust Company Inc. bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,562 shares of the company's stock, valued at approximately $469,000.

A number of other hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 8.6% in the 4th 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 period. Northern Trust Corp lifted 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 stake in Palantir Technologies in the 4th quarter valued at approximately $1,360,191,000. FMR LLC increased its position in Palantir Technologies by 22.6% during the 4th 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 during the period. Finally, Invesco Ltd. raised its stake in shares of Palantir Technologies by 31.2% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insiders Place Their Bets

In other Palantir Technologies news, Director Eric H. Woersching sold 17,000 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the completion of the sale, the director now owns 12,562 shares of the company's stock, valued at approximately $1,624,140.98. The trade was a 57.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction 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 sale, the insider now directly owns 6,432,258 shares of the company's stock, valued at approximately $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 a total of 2,661,925 shares of company stock valued at $268,580,958 in the last quarter. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded down $1.20 on Thursday, hitting $135.19. The stock had a trading volume of 56,051,410 shares, compared to its average volume of 80,529,565. The stock has a market cap of $319.04 billion, a P/E ratio of 711.56, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. The firm's fifty day simple moving average is $113.13 and its two-hundred day simple moving average is $93.63. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $140.00.

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

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research analyst reports. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald increased 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. William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Finally, UBS Group upped their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. 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 company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $86.30.

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.