Cornerstone Enterprises LLC Has $3.72 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Cornerstone Enterprises LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 10.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 44,088 shares of the company's stock after selling 5,223 shares during the period. Palantir Technologies makes up approximately 2.3% of Cornerstone Enterprises LLC's holdings, making the stock its 12th largest position. Cornerstone Enterprises LLC's holdings in Palantir Technologies were worth $3,721,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PLTR. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp lifted its stake in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Norges Bank acquired a new stake in Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. FMR LLC raised its holdings in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after buying an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. raised its holdings 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. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Up 3.5%

Shares of PLTR traded up $4.53 during trading hours on Monday, hitting $135.27. 83,319,300 shares of the stock traded hands, compared to its average volume of 82,466,138. The business has a fifty day moving average of $125.24 and a 200-day moving average of $99.81. The firm has a market capitalization of $319.23 billion, a PE ratio of 588.13, a price-to-earnings-growth ratio of 11.16 and a beta of 2.64. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the business posted $0.08 EPS. The company's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider now directly owns 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the sale, the insider now directly owns 592 shares of the company's stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,408,748 shares of company stock valued at $180,327,603 over the last ninety days. Insiders own 12.93% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on PLTR shares. The Goldman Sachs Group increased their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Citigroup upped their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $89.32.

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.