Cromwell Holdings LLC Boosts Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Cromwell Holdings LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 86.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,647 shares of the company's stock after acquiring an additional 3,076 shares during the quarter. Cromwell Holdings LLC's holdings in Palantir Technologies were worth $561,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its stake in shares of Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the period. Richardson Capital Management LLC bought a new position in shares of Palantir Technologies in the 1st quarter worth approximately $33,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after purchasing an additional 125 shares during the period. Godsey & Gibb Inc. lifted its stake in shares of Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after purchasing an additional 370 shares during the period. Finally, Arlington Trust Co LLC lifted its stake in shares of Palantir Technologies by 542.9% in the 1st quarter. Arlington Trust Co LLC now owns 450 shares of the company's stock worth $38,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded down $0.40 on Friday, hitting $142.10. 52,005,962 shares of the company traded hands, compared to its average volume of 83,116,240. The stock has a market capitalization of $335.34 billion, a P/E ratio of 617.83, a price-to-earnings-growth ratio of 12.16 and a beta of 2.59. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22. The business has a 50-day simple moving average of $130.81 and a 200 day simple moving average of $103.66.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting 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 analyst estimates of $863.89 million. During the same period last year, the firm posted $0.08 earnings per share. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. Research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLTR. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Citigroup raised their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Cantor Fitzgerald raised their target price 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. The Goldman Sachs Group raised their target price 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. Finally, Mizuho raised their target price on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 11th. 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $89.32.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the firm's stock in a transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 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 transaction of $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares of the company's stock, valued at $46,472,465.49. The trade was a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,452,297 shares of company stock valued at $186,222,373 in the last 90 days. Company 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.