BOCHK Asset Management Ltd Has $2.02 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

BOCHK Asset Management Ltd lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 24.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,900 shares of the company's stock after acquiring an additional 4,700 shares during the period. Palantir Technologies accounts for approximately 1.1% of BOCHK Asset Management Ltd's portfolio, making the stock its 14th biggest position. BOCHK Asset Management Ltd's holdings in Palantir Technologies were worth $2,017,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PLTR. Sovran Advisors LLC increased its position in shares of Palantir Technologies by 1.8% during the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after purchasing an additional 94 shares during the last quarter. Lodestone Wealth Management LLC increased 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 worth $755,000 after purchasing an additional 97 shares during the last quarter. Continuum Advisory LLC increased 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 worth $202,000 after purchasing an additional 98 shares during the last quarter. Sierra Ocean LLC increased its position in shares of Palantir Technologies by 26.6% during the 1st quarter. Sierra Ocean LLC now owns 523 shares of the company's stock worth $44,000 after purchasing an additional 110 shares during the last quarter. Finally, Heritage Wealth Management Inc. CA increased its position in shares of Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after purchasing an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research reports. Morgan Stanley lifted their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Mizuho lifted their target price on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group lifted their price objective on Palantir Technologies from $80.00 to $90.00 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, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $89.32.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the sale, the insider owned 363,755 shares in the company, valued at $49,219,689.05. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the company'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 value of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. Company insiders own 12.93% of the company's stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $0.59 on Tuesday, reaching $139.71. The company's stock had a trading volume of 59,671,979 shares, compared to its average volume of 83,008,050. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22. The firm has a market cap of $329.70 billion, a PE ratio of 607.43, a PEG ratio of 11.47 and a beta of 2.59. The business's 50-day moving average price is $128.96 and its two-hundred day moving average price is $102.29.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous 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, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies Profile

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.