Bay Rivers Group Has $1.28 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Bay Rivers Group increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 136.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,142 shares of the company's stock after buying an additional 8,736 shares during the period. Bay Rivers Group's holdings in Palantir Technologies were worth $1,278,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Tallon Kerry Patrick acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $289,000. Union Bancaire Privee UBP SA purchased a new position in shares of Palantir Technologies in the 4th quarter worth $15,177,000. Revolve Wealth Partners LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $450,000. Stock Yards Bank & Trust Co. acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $289,000. Finally, Trust Point Inc. acquired a new position in shares of Palantir Technologies during the 4th quarter valued at $419,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLTR. UBS Group upped their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Cantor Fitzgerald upped their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, DA Davidson raised their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Trading Up 6.5%

Shares of NASDAQ PLTR traded up $7.81 during mid-day trading on Friday, reaching $127.72. The company had a trading volume of 86,933,462 shares, compared to its average volume of 79,808,026. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $135.28. The stock has a market cap of $301.41 billion, a PE ratio of 672.25, a P/E/G ratio of 10.84 and a beta of 2.64. The company has a 50-day moving average price of $109.15 and a two-hundred day moving average price of $91.71.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the company posted $0.08 EPS. The company's quarterly revenue was up 39.4% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $50,497.60. This trade represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,894,925 shares of company stock worth $369,820,528 in the last 90 days. Company 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.