American Century Companies Inc. Buys 39,131 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• American Century Companies Inc. increased its ownership of Palantir Technologies by 0.9%, acquiring an additional 39,131 shares, bringing its total to approximately 4.5 million shares valued at $382.2 million.
• Other large investors, including Goldman Sachs, have also significantly increased stakes in Palantir, raising ownership stakes as high as 38.5%.
• Palantir Technologies reported a quarterly earnings of $0.16 per share, surpassing estimates, with revenue growth of 48% year-over-year and a net margin of 22.18%.

American Century Companies Inc. boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,528,629 shares of the company's stock after purchasing an additional 39,131 shares during the period. American Century Companies Inc. owned approximately 0.19% of Palantir Technologies worth $382,216,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PLTR. Nuveen LLC bought a new stake in Palantir Technologies in the 1st quarter worth approximately $520,232,000. Goldman Sachs Group Inc. increased its stake in shares of Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares in the last quarter. Capital World Investors bought a new position in Palantir Technologies in the 4th quarter worth $253,816,000. Northern Trust Corp raised its holdings in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Finally, Invesco Ltd. lifted its position in Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the sale, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. The trade was a 1.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the business's 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 directly owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock worth $196,472,623 over the last 90 days. Corporate insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 target price on Palantir Technologies in a research report on Tuesday, August 5th. Loop Capital lifted their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Bank of America lifted their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Trading Down 1.8%

Shares of NASDAQ:PLTR opened at $181.02 on Friday. The company has a market capitalization of $427.19 billion, a price-to-earnings ratio of 603.42, a PEG ratio of 10.39 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00. The firm's 50-day moving average is $150.04 and its 200 day moving average is $118.54.

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

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.

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