Fiduciary Family Office LLC Takes $1.06 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Fiduciary Family Office LLC has acquired a new stake in Palantir Technologies Inc., purchasing 12,500 shares valued at approximately $1.06 million during the first quarter.
• Insider sales include Shyam Sankar and Alexander C. Karp, who sold significant amounts of stock, impacting their ownership status; Sankar sold 405,000 shares for around $53.5 million and Karp sold 358,982 shares for about $45.4 million.
• Palantir’s stock recently increased by 2.6%, with recent earnings showing a report of $0.16 EPS, exceeding expectations, alongside a revenue increase of 48.0% year-over-year.

Fiduciary Family Office LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,500 shares of the company's stock, valued at approximately $1,055,000.

Several other institutional investors and hedge funds have also made changes to their positions in PLTR. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $450,000. Envestnet Asset Management Inc. lifted its position in Palantir Technologies by 30.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 592,412 shares of the company's stock worth $44,804,000 after buying an additional 137,604 shares during the period. FIL Ltd purchased a new position in Palantir Technologies during the fourth quarter worth about $17,890,000. Bessemer Group Inc. lifted its position in Palantir Technologies by 59.0% during the fourth quarter. Bessemer Group Inc. now owns 22,364 shares of the company's stock worth $1,691,000 after buying an additional 8,299 shares during the period. Finally, F M Investments LLC purchased a new position in Palantir Technologies during the fourth quarter worth about $1,969,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, 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 value of $53,492,400.00. Following the sale, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value 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 ownership of the stock. 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 quarter. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Up 2.6%

NASDAQ:PLTR opened at $186.96 on Friday. The business's 50 day moving average is $145.64 and its two-hundred day moving average is $115.61. Palantir Technologies Inc. has a 52 week low of $29.10 and a 52 week high of $187.99. The company has a market cap of $441.21 billion, a PE ratio of 623.22, a P/E/G ratio of 11.57 and a beta of 2.60.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and increased their target price for the stock from $80.00 to $160.00 in a research report on Tuesday. Citigroup restated a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday. Loop Capital upped their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday. DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Bank of America upped their price target on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $136.61.

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.