Albion Financial Group UT Boosts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Albion Financial Group UT raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 17,192.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,421 shares of the company's stock after purchasing an additional 2,407 shares during the period. Albion Financial Group UT's holdings in Palantir Technologies were worth $204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PLTR. Norges Bank bought a new stake in Palantir Technologies during the fourth quarter worth $1,360,191,000. Geode Capital Management LLC grew its position in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Wellington Management Group LLP lifted its stake in Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after purchasing an additional 3,907,022 shares during the last quarter. Invesco Ltd. grew its holdings in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Finally, Capital World Investors purchased a new stake in Palantir Technologies in the fourth quarter worth $253,816,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Up 1.1%

PLTR traded up $1.44 during trading on Wednesday, hitting $132.12. The company's stock had a trading volume of 59,500,085 shares, compared to its average volume of 82,817,618. The business's fifty day simple moving average is $126.89 and its 200 day simple moving average is $100.44. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $148.22. The firm has a market capitalization of $311.79 billion, a price-to-earnings ratio of 574.43, a P/E/G ratio of 11.16 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. UBS Group restated a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Daiwa America raised Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $89.32.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 35,480 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the transaction, the insider owned 367,691 shares of the company's stock, valued at $46,472,465.49. This represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider owned 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,408,748 shares of company stock worth $180,327,603 over the last ninety days. 9.23% of the stock is currently owned by insiders.

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.