Farther Finance Advisors LLC Buys 15,054 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Farther Finance Advisors LLC grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 65.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,917 shares of the company's stock after acquiring an additional 15,054 shares during the quarter. Farther Finance Advisors LLC's holdings in Palantir Technologies were worth $3,211,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PLTR. Geode Capital Management LLC boosted its stake in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $1,360,191,000. FMR LLC increased its holdings in Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after buying an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The transaction 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 shares were 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 now directly owns 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. In the last ninety days, insiders have sold 1,816,925 shares of company stock worth $215,448,358. Insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PLTR shares. Loop Capital raised their price target on shares of Palantir Technologies from $130.00 to $155.00 and gave the company a "buy" rating in a report on Thursday. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. The Goldman Sachs Group raised their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, UBS Group lifted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $86.30.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $2.21 during trading on Friday, hitting $137.40. 93,318,005 shares of the company's stock were exchanged, compared to its average volume of 81,017,198. The business's 50-day simple moving average is $115.48 and its 200 day simple moving average is $94.61. The company has a market cap of $324.25 billion, a price-to-earnings ratio of 723.20, a PEG ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $140.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company's revenue was up 39.4% on a year-over-year basis. During the same period last year, the firm posted $0.08 EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS 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.