Coastline Trust Co Has $236,000 Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Coastline Trust Co grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 266.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,791 shares of the company's stock after acquiring an additional 2,030 shares during the period. Coastline Trust Co's holdings in Palantir Technologies were worth $236,000 as of its most recent SEC filing.

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

Palantir Technologies Trading Up 1.6%

PLTR stock traded up $2.15 during midday trading on Friday, hitting $134.27. The stock had a trading volume of 41,812,483 shares, compared to its average volume of 82,906,073. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22. The stock has a 50-day simple moving average of $128.04 and a 200 day simple moving average of $101.06. The firm has a market capitalization of $316.85 billion, a price-to-earnings ratio of 583.76, a P/E/G ratio of 11.28 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the company earned $0.08 earnings per share. The company's revenue for the quarter was up 39.4% compared to the same quarter last year. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PLTR. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley boosted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Citigroup upped their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $89.32.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 33,335 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the completion of the transaction, the insider directly owned 363,755 shares in the company, valued at approximately $49,219,689.05. This represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,451,497 shares of company stock worth $186,110,685 in the last quarter. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Company 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.