Bridges Investment Management Inc. Buys New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Bridges Investment Management Inc. purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,751 shares of the company's stock, valued at approximately $654,000.

Several other institutional investors have also modified their holdings of PLTR. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at $33,000. Cornerstone Planning Group LLC grew its holdings in Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares during the period. Summit Securities Group LLC acquired a new position in Palantir Technologies during the fourth quarter worth about $34,000. Atlantic Edge Private Wealth Management LLC grew its holdings in Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after acquiring an additional 125 shares during the period. Finally, Godsey & Gibb Inc. boosted its position in shares of Palantir Technologies by 740.0% during the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the transaction, the insider owned 367,691 shares in the company, valued at $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the transaction, the insider owned 592 shares in the company, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,497 shares of company stock worth $186,110,685 over the last quarter. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock traded down $0.63 during trading on Thursday, hitting $142.50. 64,227,973 shares of the company were exchanged, compared to its average volume of 83,153,909. The firm has a market capitalization of $336.29 billion, a price-to-earnings ratio of 619.57, a P/E/G ratio of 11.93 and a beta of 2.59. The business's 50-day simple moving average is $129.92 and its 200 day simple moving average is $102.83. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month 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 the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period last year, the company posted $0.08 earnings per share. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PLTR shares. DA Davidson raised their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Citigroup raised their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. UBS Group restated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.