Grimes & Company Inc. Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Grimes & Company Inc. purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,086 shares of the company's stock, valued at approximately $260,000.

Other institutional investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $31,000. Godsey & Gibb Inc. grew its stake in Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after buying an additional 370 shares during the last quarter. First Command Advisory Services Inc. bought a new stake in Palantir Technologies during the fourth quarter worth about $34,000. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $34,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $35,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of PLTR stock traded up $1.76 during trading hours on Thursday, reaching $139.96. The company had a trading volume of 58,100,428 shares, compared to its average volume of 81,096,965. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $144.86. The firm has a market cap of $330.29 billion, a price-to-earnings ratio of 608.52, a P/E/G ratio of 11.66 and a beta of 2.64. The company has a 50 day moving average of $118.64 and a 200 day moving average of $96.13.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Loop Capital set a $155.00 target price on Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. DA Davidson raised their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley upped their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $89.32.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider now directly owns 702,786 shares of the company's stock, valued at $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 SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the company'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 sale, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock worth $188,456,658 in the last ninety days. Company insiders own 9.23% 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.