Entropy Technologies LP Invests $5.35 Million in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Entropy Technologies LP has made a significant investment in Palantir Technologies, acquiring 63,440 shares valued at approximately $5.35 million.
• Palantir recently reported a quarterly earnings per share of $0.16, exceeding analysts' estimates and showing a 48% year-over-year revenue growth to $1 billion.
• Despite some insider selling activities, several analysts have upgraded their ratings for Palantir and set new price targets, with a consensus target price of $136.61.

Entropy Technologies LP purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,440 shares of the company's stock, valued at approximately $5,354,000.

Other large investors also recently bought and sold shares of the company. Mechanics Financial Corp bought a new stake in Palantir Technologies during the first quarter valued at $25,000. Richardson Capital Management LLC bought a new position in Palantir Technologies in the first quarter valued at about $33,000. Cornerstone Planning Group LLC lifted its holdings 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 purchasing an additional 185 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after buying an additional 125 shares in the last quarter. Finally, Godsey & Gibb Inc. boosted its stake in Palantir Technologies by 740.0% during the 1st 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 last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PLTR shares. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a report on Tuesday, August 5th. Bank of America upped their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. DA Davidson set a $170.00 target price on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and raised their price target for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $136.61.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 30,000 shares of Palantir Technologies stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the transaction, the insider directly owned 363,755 shares of the company's stock, valued at $63,657,125. The trade was a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider 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 position. The disclosure for this sale can be found here. Insiders have sold 1,515,632 shares of company stock worth $196,472,623 in the last 90 days. Insiders own 12.93% of the company's stock.

Palantir Technologies Stock Up 2.6%

Shares of NASDAQ PLTR traded up $4.76 during midday trading on Friday, reaching $186.96. 62,386,781 shares of the stock were exchanged, compared to its average volume of 61,745,848. The firm has a market cap of $441.21 billion, a price-to-earnings ratio of 623.22, a PEG ratio of 10.54 and a beta of 2.60. Palantir Technologies Inc. has a twelve month low of $29.10 and a twelve month high of $187.99. The firm has a 50-day simple moving average of $145.64 and a two-hundred day simple moving average of $116.13.

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

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.