GLOBALT Investments LLC GA Grows Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• GLOBALT Investments LLC GA increased its stake in Palantir Technologies by 7.4%, now owning 36,220 shares valued at $3,057,000, reflecting increased institutional interest in the company.
• Palantir Technologies reported a quarterly revenue of $883.86 million, exceeding analyst expectations, and achieved an 18.32% net margin with an EPS of $0.13.
• Insider sales included substantial transactions by executives, with Ryan D. Taylor and Alexander C. Karp selling shares totaling over $49.8 million, indicating potential shifts in insider sentiment.

GLOBALT Investments LLC GA raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,220 shares of the company's stock after purchasing an additional 2,493 shares during the quarter. GLOBALT Investments LLC GA's holdings in Palantir Technologies were worth $3,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Mechanics Financial Corp purchased a new stake in Palantir Technologies during the first quarter valued at about $25,000. Richardson Capital Management LLC purchased a new stake in shares of Palantir Technologies in the first quarter worth 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 worth $33,000 after buying an additional 185 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $34,000. Finally, Atlantic Edge Private Wealth Management LLC lifted 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 worth $34,000 after buying an additional 125 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $158.80 on Friday. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $160.39. The firm's 50 day simple moving average is $137.03 and its two-hundred day simple moving average is $108.85. The stock has a market capitalization of $374.75 billion, a P/E ratio of 690.43, a PEG ratio of 13.22 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period last year, the business earned $0.08 earnings per share. The business's quarterly revenue was up 39.4% on a year-over-year basis. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 35,480 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the transaction, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was 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 owned 6,432,258 shares in the company, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of Palantir Technologies in a report on Friday. They issued an "overweight" rating and a $170.00 price target on the stock. Morgan Stanley increased their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $95.30.

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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