ING Groep NV Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

ING Groep NV grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 53.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 990,155 shares of the company's stock after acquiring an additional 346,676 shares during the quarter. ING Groep NV's holdings in Palantir Technologies were worth $83,569,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mechanics Financial Corp purchased a new stake in Palantir Technologies in the first quarter worth $25,000. Richardson Capital Management LLC purchased a new position in Palantir Technologies in the 1st quarter worth about $33,000. Cornerstone Planning Group LLC increased its position in shares of Palantir Technologies by 90.2% during the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares during the period. Atlantic Edge Private Wealth Management LLC increased its position in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after acquiring an additional 125 shares during the period. Finally, Godsey & Gibb Inc. increased its position in shares of 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 acquiring an additional 370 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, Director Eric H. Woersching sold 10,214 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director directly owned 2,348 shares of the company's stock, valued at $307,470.60. This represents a 81.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Glazer sold 3,418 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares in the company, valued at $61,987,191.63. This trade represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 over the last quarter. Company insiders own 12.93% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $154.27 on Monday. The firm has a market capitalization of $364.06 billion, a PE ratio of 670.74, a price-to-earnings-growth ratio of 13.15 and a beta of 2.60. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $160.89. The company's fifty day moving average price is $140.37 and its 200-day moving average price is $112.57.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly 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 business had revenue of $883.86 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 EPS. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of several research reports. Piper Sandler initiated coverage on Palantir Technologies in a report on Friday, July 25th. They set an "overweight" rating and a $170.00 price objective on the stock. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their price target for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. Morgan Stanley raised their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, DA Davidson raised their target price 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. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $96.45.

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.

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