AlphaStar Capital Management LLC Buys 8,376 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

AlphaStar Capital Management LLC boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 55.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,516 shares of the company's stock after purchasing an additional 8,376 shares during the period. AlphaStar Capital Management LLC's holdings in Palantir Technologies were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $1,360,191,000. Geode Capital Management LLC raised its holdings in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP boosted its position in Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. raised its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the period. Finally, Capital World Investors purchased a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $253,816,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on PLTR shares. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. UBS Group restated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Five 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's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $89.32.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 35,480 shares of the 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 $4,484,317.20. Following the sale, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

Shares of PLTR traded up $0.59 during mid-day trading on Tuesday, hitting $139.71. The company's stock had a trading volume of 59,671,979 shares, compared to its average volume of 82,914,603. The firm has a 50-day moving average price of $128.96 and a 200 day moving average price of $102.29. The stock has a market capitalization of $329.70 billion, a price-to-earnings ratio of 607.43, a PEG ratio of 11.47 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million during 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 for the quarter was up 39.4% on a year-over-year basis. During the same period last year, the company posted $0.08 earnings per share. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.