Capital Management Associates Inc Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Capital Management Associates Inc lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 92.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,424 shares of the company's stock after buying an additional 4,996 shares during the period. Capital Management Associates Inc's holdings in Palantir Technologies were worth $880,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Crossmark Global Holdings Inc. increased its position in shares of Palantir Technologies by 5.0% during the 1st quarter. Crossmark Global Holdings Inc. now owns 215,068 shares of the company's stock valued at $18,152,000 after purchasing an additional 10,288 shares during the last quarter. Financial Counselors Inc. raised its holdings in Palantir Technologies by 21.4% during the first quarter. Financial Counselors Inc. now owns 5,433 shares of the company's stock valued at $459,000 after acquiring an additional 958 shares during the period. Wood Tarver Financial Group LLC raised its position in shares of Palantir Technologies by 10.7% during the first quarter. Wood Tarver Financial Group LLC now owns 3,679 shares of the company's stock valued at $311,000 after buying an additional 356 shares during the last quarter. Callan Capital LLC boosted its holdings in shares of Palantir Technologies by 43.5% during the 1st quarter. Callan Capital LLC now owns 4,816 shares of the company's stock valued at $406,000 after purchasing an additional 1,461 shares during the last quarter. Finally, BOCHK Asset Management Ltd grew its position in shares of Palantir Technologies by 24.5% during the first quarter. BOCHK Asset Management Ltd now owns 23,900 shares of the company's stock valued at $2,017,000 after purchasing an additional 4,700 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on PLTR shares. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. DA Davidson upped their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies Price Performance

Shares of PLTR opened at $134.27 on Monday. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $148.22. The company has a market cap of $316.85 billion, a P/E ratio of 583.76, a PEG ratio of 11.47 and a beta of 2.59. The stock has a fifty day moving average price of $128.47 and a 200 day moving average price of $101.88.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the company earned $0.08 earnings per share. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company's 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 completion of the transaction, the insider directly owned 592 shares of the company's stock, 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. Over the last quarter, insiders sold 1,451,497 shares of company stock valued at $186,110,685. Insiders own 12.93% of the company's stock.

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.

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