ASR Vermogensbeheer N.V. Acquires New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• ASR Vermogensbeheer N.V. acquired 182,836 shares of Palantir Technologies, valued at approximately $15.43 million, as per its 13F filing.
• Insider Shyam Sankar sold 405,000 shares at an average price of $132.08, signifying a 36.56% decrease in his stake.
• Equities analysts have varying price targets for Palantir, with Wedbush setting a goal of $200.00 and Royal Bank of Canada at $45.00, indicating differing perspectives on the stock's potential.

ASR Vermogensbeheer N.V. purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 182,836 shares of the company's stock, valued at approximately $15,431,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allegiance Financial Group Advisory Services LLC boosted its position in shares of Palantir Technologies by 3.0% during the first quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after buying an additional 84 shares during the last quarter. Sovran Advisors LLC boosted its stake in Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after acquiring an additional 94 shares during the last quarter. Lodestone Wealth Management LLC grew its position in shares of Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after acquiring an additional 97 shares during the period. Continuum Advisory LLC grew its position in shares of Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after acquiring an additional 98 shares during the period. Finally, Kathmere Capital Management LLC increased its stake in shares of Palantir Technologies by 0.5% during the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after purchasing an additional 99 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PLTR has been the subject of several research reports. UBS Group reissued a "neutral" rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a report on Tuesday. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Trading Up 1.5%

Shares of NASDAQ:PLTR traded up $2.66 during trading on Thursday, reaching $182.20. The company had a trading volume of 77,586,531 shares, compared to its average volume of 60,547,432. The company has a fifty day moving average of $144.43 and a two-hundred day moving average of $114.82. The stock has a market capitalization of $429.98 billion, a P/E ratio of 607.35, a price-to-earnings-growth ratio of 13.07 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $26.69 and a 12 month high of $184.48.

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

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 30,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the transaction, the insider owned 363,755 shares in the company, valued at $63,657,125. The trade was a 7.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the transaction, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. This represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock valued at $196,472,623 over the last ninety days. Corporate insiders own 9.23% 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.