Cadinha & Co. LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 73.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,079 shares of the company's stock after selling 169,685 shares during the quarter. Palantir Technologies makes up approximately 1.1% of Cadinha & Co. LLC's holdings, making the stock its 23rd biggest holding. Cadinha & Co. LLC's holdings in Palantir Technologies were worth $5,071,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its position in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp increased its position in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the 4th quarter valued at about $1,360,191,000. FMR LLC increased its position in Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after acquiring an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. increased its position in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.
Palantir Technologies Stock Up 3.5%
Palantir Technologies stock traded up $4.31 during midday trading on Friday, hitting $126.63. 185,234,367 shares of the stock were exchanged, compared to its average volume of 78,766,972. Palantir Technologies Inc. has a 52 week low of $21.01 and a 52 week high of $133.49. The company has a fifty day simple moving average of $105.90 and a two-hundred day simple moving average of $89.86. The stock has a market capitalization of $298.84 billion, a PE ratio of 666.51, a P/E/G ratio of 10.84 and a beta of 2.68.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The business's revenue was up 39.4% on a year-over-year basis. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Loop Capital raised their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Mizuho raised their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research report on Tuesday, May 6th. Robert W. Baird lifted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Citigroup lifted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, UBS Group lifted their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $83.95.
Get Our Latest Research Report on Palantir Technologies
Insider Buying and Selling at Palantir Technologies
In other Palantir Technologies news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now owns 184,617 shares of the company's stock, valued at approximately $15,993,370.71. The trade was a 3.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $50,497.60. This represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,901,701 shares of company stock valued at $370,407,533. 9.23% of the stock is currently owned by corporate insiders.
Palantir Technologies Profile
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Free Report)
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.
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