Palantir Technologies Inc. (NASDAQ:PLTR) Stock Holdings Lifted by Bayforest Capital Ltd

Bayforest Capital Ltd lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 264.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,452 shares of the company's stock after purchasing an additional 11,936 shares during the quarter. Palantir Technologies accounts for about 0.7% of Bayforest Capital Ltd's portfolio, making the stock its 6th largest position. Bayforest Capital Ltd's holdings in Palantir Technologies were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after acquiring an additional 6,479 shares during the last quarter. Garrison Bradford & Associates Inc. bought a new stake in Palantir Technologies during the 1st quarter worth approximately $45,000. Pitcairn Co. bought a new stake in Palantir Technologies during the 4th quarter worth approximately $281,000. TCW Group Inc. grew its holdings in Palantir Technologies by 14.5% during the 1st quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after acquiring an additional 4,068 shares during the last quarter. Finally, Sagespring Wealth Partners LLC grew its holdings in Palantir Technologies by 36.3% during the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after acquiring an additional 6,405 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PLTR. Piper Sandler began coverage on shares of Palantir Technologies in a research report on Friday, July 25th. They issued an "overweight" rating and a $170.00 price target on the stock. Loop Capital boosted their price target on shares of Palantir Technologies from $155.00 to $178.00 and gave the stock a "buy" rating in a research report on Wednesday. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $96.45.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider owned 702,786 shares of the company's stock, valued at $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. Over the last three months, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Down 2.6%

PLTR traded down $4.08 during trading on Friday, hitting $154.27. 60,986,881 shares of the company traded hands, compared to its average volume of 92,549,563. The firm has a market cap of $364.06 billion, a P/E ratio of 670.74, a price-to-earnings-growth ratio of 13.52 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $160.89. The stock's fifty day moving average is $139.76 and its 200 day moving average is $111.35.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued 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. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. On average, equities research analysts forecast 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.