Alpha Cubed Investments LLC Acquires 29,955 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Alpha Cubed Investments LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 103,249 shares of the company's stock after purchasing an additional 29,955 shares during the period. Alpha Cubed Investments LLC's holdings in Palantir Technologies were worth $8,714,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PLTR. Revolve Wealth Partners LLC bought a new stake in Palantir Technologies during the fourth quarter worth $450,000. Assetmark Inc. boosted its holdings in Palantir Technologies by 46.3% during the 4th quarter. Assetmark Inc. now owns 1,191 shares of the company's stock worth $90,000 after acquiring an additional 377 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth $522,000. Cullen Frost Bankers Inc. raised its holdings in shares of Palantir Technologies by 4,248.7% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,696 shares of the company's stock valued at $128,000 after purchasing an additional 1,657 shares during the last quarter. Finally, Andra AP fonden bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $454,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 1.6%

NASDAQ PLTR opened at $134.27 on Monday. The company has a market cap of $316.85 billion, a PE ratio of 583.76, a price-to-earnings-growth ratio of 11.47 and a beta of 2.59. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22. The firm's 50-day simple moving average is $128.47 and its two-hundred day simple moving average is $101.88.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the completion of the transaction, the insider owned 363,755 shares in the company, valued at $49,219,689.05. This trade represents a 8.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $430,565.46. Following the sale, the insider owned 492,079 shares in the company, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,451,497 shares of company stock worth $186,110,685 in the last 90 days. 12.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PLTR shares. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Daiwa America upgraded Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $89.32.

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.

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