IFM Investors Pty Ltd Buys 31,491 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

IFM Investors Pty Ltd grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 406,681 shares of the company's stock after buying an additional 31,491 shares during the quarter. IFM Investors Pty Ltd's holdings in Palantir Technologies were worth $34,324,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies in the first quarter worth about $33,000. Godsey & Gibb Inc. grew its stake in shares of Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after purchasing an additional 370 shares during the last quarter. Arlington Trust Co LLC grew its stake in shares of Palantir Technologies by 542.9% in the first quarter. Arlington Trust Co LLC now owns 450 shares of the company's stock worth $38,000 after purchasing an additional 380 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $34,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $35,000. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 405,000 shares of the business'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 completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Glazer sold 30,812 shares of the business'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 $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares of the company's stock, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,451,497 shares of company stock worth $186,110,685 over the last 90 days. 9.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. DA Davidson raised their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Mizuho lifted their price objective on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday, June 11th. Finally, 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. Five 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $89.32.

Palantir Technologies Stock Up 1.6%

Shares of PLTR stock traded up $2.15 during trading hours on Friday, hitting $134.27. 41,812,483 shares of the company's stock traded hands, compared to its average volume of 82,906,073. The stock's fifty day simple moving average is $128.47 and its two-hundred day simple moving average is $101.48. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22. The stock has a market cap of $316.85 billion, a price-to-earnings ratio of 583.76, a PEG ratio of 11.47 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its 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 firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period last year, the business earned $0.08 earnings per share. The business's revenue was up 39.4% on a year-over-year basis. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal 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.