Herbst Group LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Herbst Group LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,156 shares of the company's stock, valued at approximately $3,052,000. Palantir Technologies accounts for about 2.2% of Herbst Group LLC's investment portfolio, making the stock its 22nd largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mather Group LLC. raised its position in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after purchasing an additional 448 shares during the period. Sage Advisors LLC acquired a new position in Palantir Technologies during the fourth quarter valued at $369,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Palantir Technologies by 13.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 247,585 shares of the company's stock valued at $18,725,000 after buying an additional 28,534 shares during the period. MGB Wealth Management LLC acquired a new position in Palantir Technologies during the fourth quarter valued at $278,000. Finally, FFG Partners LLC acquired a new position in Palantir Technologies during the fourth quarter valued at $4,886,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR traded up $7.81 during trading hours on Friday, hitting $127.72. 86,933,462 shares of the company were exchanged, compared to its average volume of 79,886,273. The company has a market cap of $301.41 billion, a PE ratio of 672.25, a PEG ratio of 10.84 and a beta of 2.64. The firm's 50 day moving average is $109.15 and its 200-day moving average is $91.71. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $135.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the prior year, the company posted $0.08 EPS. The firm's revenue was up 39.4% on a year-over-year basis. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company's stock, valued at $48,988. This represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,894,925 shares of company stock worth $369,820,528 in the last 90 days. 9.23% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on PLTR. Daiwa Capital Markets began coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target on the stock. Morgan Stanley upped their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Loop Capital upped their price target on Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Finally, UBS Group upped their price target on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $83.95.

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.