Greenleaf Trust Grows Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Greenleaf Trust increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 19.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 94,965 shares of the company's stock after purchasing an additional 15,426 shares during the period. Greenleaf Trust's holdings in Palantir Technologies were worth $8,015,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PLTR. New Insight Wealth Advisors raised its holdings in shares of Palantir Technologies by 9.1% in the 1st quarter. New Insight Wealth Advisors now owns 3,211 shares of the company's stock valued at $271,000 after acquiring an additional 268 shares in the last quarter. OMNI 360 Wealth Inc. purchased a new stake in shares of Palantir Technologies in the 1st quarter valued at about $273,000. Personal CFO Solutions LLC raised its holdings in shares of Palantir Technologies by 2.3% in the 1st quarter. Personal CFO Solutions LLC now owns 10,145 shares of the company's stock valued at $856,000 after acquiring an additional 225 shares in the last quarter. AlphaStar Capital Management LLC raised its holdings in shares of Palantir Technologies by 55.3% in the 1st quarter. AlphaStar Capital Management LLC now owns 23,516 shares of the company's stock valued at $1,985,000 after acquiring an additional 8,376 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Palantir Technologies by 0.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 46,324 shares of the company's stock valued at $3,910,000 after acquiring an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 34,357 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.96, for a total value of $4,327,607.72. Following the sale, the insider owned 592 shares in the company, valued at approximately $74,568.32. This represents a 98.31% 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 Shyam Sankar sold 405,000 shares of the company's stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders sold 1,451,497 shares of company stock valued at $186,110,685 over the last 90 days. 9.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PLTR shares. DA Davidson raised their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Cantor Fitzgerald raised their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded down $0.63 during midday trading on Thursday, hitting $142.50. 64,227,973 shares of the company traded hands, compared to its average volume of 83,153,909. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22. The stock has a 50-day moving average price of $130.45 and a 200 day moving average price of $103.25. The firm has a market cap of $336.29 billion, a P/E ratio of 619.57, a P/E/G ratio of 12.22 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. Palantir Technologies'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 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.