E Fund Management Co. Ltd. Has $10.82 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• E Fund Management Co. Ltd. increased its stake in Palantir Technologies by 88.1%, owning 128,185 shares valued at approximately $10.82 million as of the end of the first quarter.
• Insider sales at Palantir were notable, with Alexander C. Karp and Shyam Sankar selling a combined total of over 763,982 shares worth approximately $98.86 million in recent transactions.
• Palantir's stock has performed well, trading at $186.97 with a market capitalization of $441.23 billion, following a quarterly earnings report showing a 48% year-over-year revenue increase.

E Fund Management Co. Ltd. boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 88.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,185 shares of the company's stock after buying an additional 60,052 shares during the period. Palantir Technologies makes up about 0.5% of E Fund Management Co. Ltd.'s investment portfolio, making the stock its 29th largest position. E Fund Management Co. Ltd.'s holdings in Palantir Technologies were worth $10,819,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Nuveen LLC acquired a new position in shares of Palantir Technologies during the first quarter valued at about $520,232,000. Goldman Sachs Group Inc. lifted its position in shares of Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares during the period. Capital World Investors bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $253,816,000. Northern Trust Corp lifted its position in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after acquiring an additional 2,998,716 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In related news, 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 transaction 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 $812,973,088.62. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction dated 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 completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock worth $196,472,623 over the last 90 days. Company insiders own 12.93% of the company's stock.

Palantir Technologies Trading Up 2.3%

Palantir Technologies stock opened at $186.97 on Wednesday. Palantir Technologies Inc. has a 12 month low of $29.31 and a 12 month high of $190.00. The stock's 50 day moving average is $147.73 and its 200-day moving average is $117.34. The company has a market capitalization of $441.23 billion, a price-to-earnings ratio of 623.25, a PEG ratio of 10.30 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter last year, the business posted $0.09 EPS. Palantir Technologies's revenue for the quarter was up 48.0% on a year-over-year basis. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wedbush set a $200.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. Bank of America raised their target price on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. UBS Group restated a "neutral" rating and set a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group raised their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $136.61.

Palantir Technologies 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.

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