6,163,892 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Acquired by Nuveen LLC

Nuveen LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,163,892 shares of the company's stock, valued at approximately $520,232,000. Nuveen LLC owned approximately 0.26% of Palantir Technologies at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Scissortail Wealth Management LLC purchased a new position in shares of Palantir Technologies in the first quarter worth approximately $202,000. Cooper Financial Group increased its position in shares of Palantir Technologies by 212.5% in the first quarter. Cooper Financial Group now owns 8,528 shares of the company's stock worth $720,000 after acquiring an additional 5,799 shares in the last quarter. Aveo Capital Partners LLC purchased a new position in shares of Palantir Technologies in the first quarter worth approximately $1,761,000. Strengthening Families & Communities LLC increased its position in shares of Palantir Technologies by 1,045.8% in the first quarter. Strengthening Families & Communities LLC now owns 1,100 shares of the company's stock worth $93,000 after acquiring an additional 1,004 shares in the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of Palantir Technologies by 153.5% in the first quarter. King Luther Capital Management Corp now owns 70,852 shares of the company's stock worth $5,980,000 after acquiring an additional 42,902 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. This represents a 8.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,515,632 shares of company stock valued at $196,472,623. 12.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler set a $182.00 target price on Palantir Technologies in a research note on Tuesday, August 5th. Bank of America boosted their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Citigroup restated a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Stock Performance

Shares of PLTR opened at $186.96 on Monday. The firm has a market cap of $441.21 billion, a PE ratio of 623.22, a PEG ratio of 10.54 and a beta of 2.60. The firm's 50 day moving average price is $145.64 and its 200 day moving average price is $116.13. Palantir Technologies Inc. has a twelve month low of $29.10 and a twelve month high of $187.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the firm earned $0.09 earnings per share. The company's revenue for the quarter was up 48.0% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

About Palantir Technologies

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.

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