Edgestream Partners L.P. Takes $536,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Edgestream Partners L.P. bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,348 shares of the company's stock, valued at approximately $536,000.

Other hedge funds have also modified their holdings of the company. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at about $33,000. Cornerstone Planning Group LLC raised its position in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after buying an additional 185 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $34,000. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares during the period. Finally, Godsey & Gibb Inc. grew its holdings in shares of Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR opened at $153.52 on Friday. The stock has a market capitalization of $362.29 billion, a PE ratio of 667.48, a P/E/G ratio of 13.11 and a beta of 2.59. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $155.68. The company's 50-day simple moving average is $134.33 and its 200-day simple moving average is $106.36.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm's revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 earnings per share. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Eric H. Woersching sold 10,214 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director owned 2,348 shares of the company's stock, valued at $307,470.60. This trade represents a 81.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 over the last quarter. Insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLTR. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $91.37.

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.

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