Denali Advisors LLC Purchases 9,695 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Denali Advisors LLC boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 34.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,225 shares of the company's stock after buying an additional 9,695 shares during the quarter. Denali Advisors LLC's holdings in Palantir Technologies were worth $3,226,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PLTR. Mechanics Financial Corp acquired a new stake in shares of Palantir Technologies in the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its position in Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in Palantir Technologies during the 1st quarter worth $33,000. Atlantic Edge Private Wealth Management LLC boosted its stake in Palantir Technologies by 45.5% during 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. Finally, Godsey & Gibb Inc. grew its position in Palantir Technologies by 740.0% during 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 last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PLTR shares. Cantor Fitzgerald boosted their price target 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. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Morgan Stanley upped their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Wedbush set a $160.00 price target on shares of Palantir Technologies in a research note on Thursday, July 10th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $91.37.

Insider Buying and Selling

In other Palantir Technologies news, insider David A. Glazer sold 30,812 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the sale, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,485,632 shares of company stock worth $191,222,623. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock traded down $0.47 during trading on Friday, hitting $153.52. 45,673,387 shares of the company were exchanged, compared to its average volume of 83,425,650. The firm has a market capitalization of $362.29 billion, a price-to-earnings ratio of 667.48, a P/E/G ratio of 13.11 and a beta of 2.59. The business's 50-day simple moving average is $134.33 and its 200 day simple moving average is $106.36. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $155.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The firm's revenue was up 39.4% on a year-over-year basis. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal 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.