Alpha Cubed Investments LLC Has $8.71 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Alpha Cubed Investments LLC lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,249 shares of the company's stock after buying an additional 29,955 shares during the period. Alpha Cubed Investments LLC's holdings in Palantir Technologies were worth $8,714,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies in the 1st quarter valued at about $33,000. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $34,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares during the period. Godsey & Gibb Inc. raised its holdings in shares of Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $36,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PLTR shares. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Citigroup upped their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley upped their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies Trading Up 3.5%

Shares of NASDAQ:PLTR traded up $4.76 on Monday, reaching $139.12. 71,672,412 shares of the company's stock were exchanged, compared to its average volume of 83,006,609. The company has a fifty day moving average of $128.47 and a 200-day moving average of $101.88. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $148.22. The company has a market capitalization of $328.31 billion, a price-to-earnings ratio of 604.87, a PEG ratio of 11.47 and a beta of 2.59.

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

Insider Buying and Selling at Palantir Technologies

In related news, insider David A. Glazer sold 3,418 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider owned 492,079 shares in the company, valued at approximately $61,987,191.63. This trade represents a 0.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the sale, the insider owned 363,755 shares in the company, valued at $49,219,689.05. This represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,497 shares of company stock worth $186,110,685 in the last three months. Company insiders own 12.93% of the company's stock.

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.