Inscription Capital LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Inscription Capital LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,687 shares of the company's stock, valued at approximately $818,000.

A number of other hedge funds also recently added to or reduced their stakes in PLTR. Geode Capital Management LLC raised its position in 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 stake in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after buying an additional 3,299,779 shares in the last quarter. Norges Bank acquired a new stake in Palantir Technologies during the 4th quarter valued at $1,360,191,000. FMR LLC increased its position in 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 buying an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. raised 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 acquiring an additional 3,509,311 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

PLTR stock traded up $1.76 during midday trading on Thursday, reaching $139.96. 58,100,428 shares of the company's stock traded hands, compared to its average volume of 81,096,965. The business has a 50-day moving average price of $118.64 and a two-hundred day moving average price of $96.13. The company has a market capitalization of $330.29 billion, a P/E ratio of 608.52, a PEG ratio of 11.95 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for 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%. Palantir Technologies's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jeffrey Buckley sold 1,708 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $215,874.12. Following the transaction, the insider now directly owns 34,468 shares in the company, valued at approximately $4,356,410.52. This trade represents a 4.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred 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 completion of the transaction, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of analyst reports. Cantor Fitzgerald increased their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Citigroup raised their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Morgan Stanley boosted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and an average price target of $89.32.

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.