BayBridge Capital Group LLC Acquires 8,632 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

BayBridge Capital Group LLC grew its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 68.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,262 shares of the company's stock after acquiring an additional 8,632 shares during the quarter. Palantir Technologies accounts for 1.3% of BayBridge Capital Group LLC's holdings, making the stock its 14th biggest position. BayBridge Capital Group LLC's holdings in Palantir Technologies were worth $1,795,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Roxbury Financial LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $27,000. HighMark Wealth Management LLC boosted its position in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares during the last quarter. Sierra Ocean LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $31,000. Godsey & Gibb Inc. boosted its position in Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after acquiring an additional 370 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in Palantir Technologies during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

PLTR has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Cantor Fitzgerald increased their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. UBS Group increased their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Royal Bank of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $86.30.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,816,925 shares of company stock valued at $215,448,358. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Up 1.6%

Shares of PLTR traded up $2.21 during midday trading on Friday, reaching $137.40. 93,318,005 shares of the stock were exchanged, compared to its average volume of 81,017,198. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $140.00. The company has a market cap of $324.25 billion, a P/E ratio of 723.20, a PEG ratio of 10.84 and a beta of 2.64. The stock's 50 day simple moving average is $115.48 and its 200 day simple moving average is $94.81.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter last year, the firm earned $0.08 earnings per share. The company's revenue was up 39.4% on a year-over-year basis. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current 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.