Bessemer Group Inc. Acquires 3,050 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Bessemer Group Inc. boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,414 shares of the company's stock after buying an additional 3,050 shares during the period. Bessemer Group Inc.'s holdings in Palantir Technologies were worth $2,145,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Aurora Private Wealth Inc. lifted its holdings in Palantir Technologies by 102.2% in the first quarter. Aurora Private Wealth Inc. now owns 9,791 shares of the company's stock valued at $826,000 after buying an additional 4,949 shares during the period. Kellett Wealth Advisors LLC lifted its holdings in Palantir Technologies by 19.4% in the first quarter. Kellett Wealth Advisors LLC now owns 3,581 shares of the company's stock valued at $302,000 after buying an additional 581 shares during the period. Adams Diversified Equity Fund Inc. acquired a new position in Palantir Technologies in the first quarter valued at approximately $3,317,000. Daymark Wealth Partners LLC lifted its holdings in Palantir Technologies by 10.3% in the first quarter. Daymark Wealth Partners LLC now owns 10,678 shares of the company's stock valued at $901,000 after buying an additional 998 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new position in Palantir Technologies in the first quarter valued at approximately $2,248,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. This represents a 19.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by company insiders.

Palantir Technologies Trading Down 9.4%

Shares of PLTR traded down $13.51 during midday trading on Friday, reaching $130.74. The stock had a trading volume of 200,764,922 shares, compared to its average volume of 82,409,392. The firm has a market cap of $308.53 billion, a PE ratio of 568.43, a P/E/G ratio of 11.16 and a beta of 2.64. The firm has a 50 day simple moving average of $125.24 and a 200-day simple moving average of $99.62. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the company posted $0.08 earnings per share. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PLTR shares. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Mizuho increased their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a report on Wednesday, June 11th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Morgan Stanley increased their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average target price of $89.32.

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.