Clarius Group LLC Grows Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Clarius Group LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 119.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,084 shares of the company's stock after purchasing an additional 5,488 shares during the period. Clarius Group LLC's holdings in Palantir Technologies were worth $851,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in shares of Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares during the last quarter. Pitcairn Co. purchased a new position in Palantir Technologies in the 4th quarter valued at approximately $281,000. Sagespring Wealth Partners LLC grew its stake in Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after buying an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Palantir Technologies in the 4th quarter valued at approximately $52,033,000. Finally, CX Institutional bought a new position in shares of Palantir Technologies in the first quarter worth $62,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wedbush set a $140.00 price target on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald lifted their target price 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. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. UBS Group raised their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, DA Davidson lifted their price objective 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. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average target price of $89.32.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider now owns 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock valued at $188,456,658 over the last quarter. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded up $1.76 during midday trading on Thursday, hitting $139.96. 58,100,428 shares of the company traded hands, compared to its average volume of 81,096,965. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $144.86. The stock has a 50-day moving average price of $118.64 and a 200 day moving average price of $96.13. The firm has a market cap of $330.29 billion, a P/E ratio of 608.52, a P/E/G ratio of 11.66 and a beta of 2.64.

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 (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 company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.