Calamos Advisors LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Calamos Advisors LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 632,771 shares of the company's stock, valued at approximately $53,406,000.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Palantir Technologies in the 4th quarter worth about $1,360,191,000. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors purchased a new stake in shares of Palantir Technologies in the 4th quarter worth about $253,816,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 34,357 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.96, for a total value of $4,327,607.72. Following the transaction, the insider directly owned 592 shares of the company's stock, valued at $74,568.32. This trade represents a 98.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,451,497 shares of company stock worth $186,110,685 in the last quarter. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $2.15 during trading on Friday, reaching $134.27. The company had a trading volume of 41,812,483 shares, compared to its average volume of 82,906,073. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22. The stock's 50 day moving average price is $128.04 and its two-hundred day moving average price is $101.06. The firm has a market capitalization of $316.85 billion, a price-to-earnings ratio of 1,119.67, a PEG ratio of 11.47 and a beta of 2.59.

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, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the firm posted $0.08 earnings per share. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. DA Davidson lifted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Citigroup raised their target price 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, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.32.

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.