Palantir Technologies Inc. $PLTR Shares Acquired by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Palantir Technologies by 8.0% during the first quarter, owning a total of 88,972 shares valued at $7.534 million.
• Palantir reported $1 billion in revenue for the last quarter, surpassing expectations, with a 48.0% year-over-year increase.
• Analysts have varied opinions on Palantir's stock, with Wedbush setting a price target of $200.00 and two analysts rating it as a sell, while the consensus holds an average target price of $136.61.

Ethic Inc. lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,972 shares of the company's stock after acquiring an additional 6,612 shares during the period. Ethic Inc.'s holdings in Palantir Technologies were worth $7,534,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Howard Wealth Management LLC grew its position in shares of Palantir Technologies by 0.5% during the first quarter. Howard Wealth Management LLC now owns 33,201 shares of the company's stock worth $2,802,000 after acquiring an additional 156 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth $209,000. Aberdeen Group plc lifted its holdings in shares of Palantir Technologies by 112.9% during the first quarter. Aberdeen Group plc now owns 1,109,994 shares of the company's stock worth $92,279,000 after purchasing an additional 588,515 shares during the period. Liontrust Investment Partners LLP lifted its holdings in shares of Palantir Technologies by 100.5% during the first quarter. Liontrust Investment Partners LLP now owns 114,208 shares of the company's stock worth $9,639,000 after purchasing an additional 57,250 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Palantir Technologies by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,518,805 shares of the company's stock worth $297,021,000 after purchasing an additional 122,802 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Palantir Technologies stock traded down $3.14 during midday trading on Monday, reaching $174.03. 62,432,763 shares of the company were exchanged, compared to its average volume of 91,013,922. The company has a market capitalization of $412.86 billion, a price-to-earnings ratio of 580.12, a P/E/G ratio of 9.99 and a beta of 2.60. The firm's 50-day simple moving average is $151.03 and its 200-day simple moving average is $119.75. Palantir Technologies Inc. has a 1 year low of $29.31 and a 1 year high of $190.00.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PLTR shares. Wall Street Zen raised Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Citigroup reissued a "neutral" rating and issued a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. UBS Group reissued a "neutral" rating and issued a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and raised their target price for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald raised their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average target price of $136.61.

Insider Buying and Selling

In other Palantir Technologies news, insider David A. Glazer sold 3,418 shares of Palantir Technologies stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares in the company, valued at $61,987,191.63. The trade was a 0.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the sale, the director owned 62,887 shares of the company's stock, valued at $8,779,654.07. This trade represents a 1.26% 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 over the last ninety days. Insiders own 12.93% 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.