Dorsey Wright & Associates Purchases Shares of 99,277 Palantir Technologies Inc. (NASDAQ:PLTR)

Dorsey Wright & Associates bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 99,277 shares of the company's stock, valued at approximately $8,379,000. Palantir Technologies makes up 2.1% of Dorsey Wright & Associates' investment portfolio, making the stock its 5th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mechanics Financial Corp bought a new position in Palantir Technologies in the first quarter valued at about $25,000. Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies during the first quarter worth about $33,000. Cornerstone Planning Group LLC increased its stake in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after buying an additional 185 shares during the period. Summit Securities Group LLC bought a new position in Palantir Technologies in the 4th quarter valued at approximately $34,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its position in Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after buying an additional 125 shares during the period. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 0.1%

NASDAQ PLTR traded up $0.23 on Thursday, hitting $154.86. 38,806,947 shares of the company were exchanged, compared to its average volume of 66,333,364. The company has a market cap of $365.46 billion, a PE ratio of 673.30, a PEG ratio of 13.20 and a beta of 2.59. The stock has a fifty day moving average of $136.44 and a 200-day moving average of $108.24. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $155.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting 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 net margin of 18.32% and a return on equity of 6.55%. The business's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share. On average, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the transaction, the insider owned 592 shares in the company, valued at approximately $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the firm's 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 completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock worth $191,222,623 in the last quarter. Company insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLTR. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a research note on Thursday, July 10th. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Citigroup increased their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $91.37.

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.