Palantir Technologies Inc. (NASDAQ:PLTR) Stock Position Increased by AGP Franklin LLC

Key Points

• AGP Franklin LLC increased its stake in Palantir Technologies by 27.0%, making it the firm's largest holding, valued at approximately $8.14 million.
• Insider selling activity was noted, with Ryan D. Taylor and David A. Glazer both selling shares, leading to a decrease in their ownership percentages by 8.80% and 5.85% respectively.
• Analysts currently rate Palantir Technologies with an average of "Hold" and a target price of $95.30, with notable ratings from firms such as Piper Sandler and Cantor Fitzgerald.

AGP Franklin LLC raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,493 shares of the company's stock after acquiring an additional 20,506 shares during the period. Palantir Technologies makes up approximately 5.0% of AGP Franklin LLC's investment portfolio, making the stock its largest position. AGP Franklin LLC's holdings in Palantir Technologies were worth $8,144,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PLTR. Norden Group LLC boosted its holdings in Palantir Technologies by 79.2% in the 1st quarter. Norden Group LLC now owns 9,412 shares of the company's stock valued at $794,000 after purchasing an additional 4,160 shares during the period. Mackenzie Financial Corp raised its position in shares of Palantir Technologies by 12.7% in the first quarter. Mackenzie Financial Corp now owns 265,937 shares of the company's stock valued at $22,445,000 after buying an additional 29,958 shares in the last quarter. Sunpointe LLC boosted its stake in shares of Palantir Technologies by 12.5% in the first quarter. Sunpointe LLC now owns 3,654 shares of the company's stock valued at $308,000 after buying an additional 406 shares during the period. Sheaff Brock Investment Advisors LLC grew its position in Palantir Technologies by 35.6% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 20,021 shares of the company's stock worth $1,690,000 after buying an additional 5,252 shares in the last quarter. Finally, Richards Merrill & Peterson Inc. grew its position in Palantir Technologies by 3.3% during the first quarter. Richards Merrill & Peterson Inc. now owns 8,644 shares of the company's stock worth $730,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the transaction, the director owned 2,348 shares of the company's stock, valued at approximately $307,470.60. This represents a 81.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,485,632 shares of company stock worth $191,222,623. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

NASDAQ PLTR traded down $0.58 during trading on Thursday, hitting $158.03. 31,927,261 shares of the company's stock traded hands, compared to its average volume of 92,659,711. The stock has a fifty day moving average of $139.03 and a two-hundred day moving average of $110.71. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.89. The firm has a market cap of $372.93 billion, a P/E ratio of 687.98, a PEG ratio of 13.32 and a beta of 2.59.

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, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business's revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. As a group, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Piper Sandler started coverage on Palantir Technologies in a research report on Friday, July 25th. They set an "overweight" rating and a $170.00 target price for the company. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Loop Capital increased their price target on Palantir Technologies from $155.00 to $178.00 and gave the company a "buy" rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $96.45.

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.