AIA Group Ltd Boosts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• AIA Group Ltd has increased its stake in Palantir Technologies Inc. by 33.2%, now holding 48,903 shares valued at approximately $4.1 million.
• Palantir's earnings report revealed a revenue of $1 billion for the quarter, exceeding analyst expectations, with an EPS of $0.16 compared to the consensus estimate of $0.14.
• Research firms have given Palantir a consensus rating of "Hold" with an average target price of $136.61, while various analysts have set target prices ranging from $90 to $200.

AIA Group Ltd raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,903 shares of the company's stock after purchasing an additional 12,182 shares during the quarter. AIA Group Ltd's holdings in Palantir Technologies were worth $4,127,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Allegiance Financial Group Advisory Services LLC boosted its position in shares of Palantir Technologies by 3.0% during the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after acquiring an additional 84 shares in the last quarter. Sovran Advisors LLC boosted its position in shares of Palantir Technologies by 1.8% during the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after acquiring an additional 94 shares in the last quarter. Lodestone Wealth Management LLC boosted its position in shares of Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after acquiring an additional 97 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after acquiring an additional 98 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its position in shares of Palantir Technologies by 0.5% during the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after acquiring an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PLTR. DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and boosted their target price for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Wedbush set a $200.00 target price on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $136.61.

Palantir Technologies Stock Up 2.6%

PLTR opened at $186.96 on Monday. The business has a 50 day moving average price of $145.64 and a two-hundred day moving average price of $116.13. The company has a market cap of $441.21 billion, a PE ratio of 623.22, a P/E/G ratio of 10.54 and a beta of 2.60. Palantir Technologies Inc. has a 52 week low of $29.10 and a 52 week high of $187.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The firm's quarterly revenue was up 48.0% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider owned 592 shares in the company, valued at approximately $74,822.88. The trade was a 99.81% decrease in their position. 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 business's 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 $45,371,734.98. Following the transaction, the insider owned 6,432,258 shares in the company, valued at $812,973,088.62. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,515,632 shares of company stock worth $196,472,623 in the last three months. 12.93% of the stock is currently owned by corporate insiders.

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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