Palantir Technologies Inc. (NASDAQ:PLTR) Position Increased by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC increased its stake in Palantir Technologies by 17.7%, owning 22,865 shares valued at approximately $1.93 million as of its latest SEC filing.
• Palantir reported a quarterly earnings per share of $0.16, exceeding analyst expectations, and generated $1 billion in revenue, marking a 48% increase year-over-year.
• Analysts have mixed views on Palantir, with a consensus rating of "Hold" and a price target averaging $136.61, amidst various price objectives ranging from $40.00 to $177.00.

Chicago Partners Investment Group LLC increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 17.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,865 shares of the company's stock after acquiring an additional 3,446 shares during the period. Chicago Partners Investment Group LLC's holdings in Palantir Technologies were worth $1,930,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PLTR. Goldman Sachs Group Inc. lifted its position in Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after buying an additional 4,221,392 shares in the last quarter. Capital World Investors bought a new stake in shares of Palantir Technologies in the fourth quarter worth $253,816,000. Northern Trust Corp increased its stake in shares of Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Clear Street Derivatives LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth $216,953,000. Finally, Toronto Dominion Bank increased its stake in shares of Palantir Technologies by 266.2% in the fourth quarter. Toronto Dominion Bank now owns 3,932,955 shares of the company's stock worth $297,449,000 after buying an additional 2,859,091 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded up $4.76 during trading on Friday, hitting $186.96. 62,386,781 shares of the stock were exchanged, compared to its average volume of 61,219,692. The stock's fifty day moving average is $145.64 and its 200 day moving average is $115.87. The stock has a market cap of $441.21 billion, a PE ratio of 623.22, a P/E/G ratio of 11.88 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $29.10 and a 12 month high of $187.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the subject of a number of research analyst reports. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. UBS Group restated a "neutral" rating and issued a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada lifted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Finally, Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $136.61.

Insiders Place Their Bets

In related news, Director Eric H. Woersching sold 10,214 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the sale, the director owned 2,348 shares of the company's stock, valued at $307,470.60. This represents a 81.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 30,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the insider directly owned 363,755 shares of the company's stock, valued at $63,657,125. The trade was a 7.62% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,515,632 shares of company stock valued at $196,472,623. Corporate insiders own 9.23% of the company's stock.

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.