IQ EQ FUND MANAGEMENT IRELAND Ltd Has $5.82 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd has increased its stake in Palantir Technologies by 14.9%, holding 68,911 shares valued at approximately $5.82 million.
• Palantir Technologies reported a 39.4% increase in quarterly revenue year-over-year, amounting to $883.86 million, and achieved earnings per share (EPS) of $0.13, matching analysts' estimates.
• The stock has seen significant insider trading, with over 1.48 million shares sold by insiders in the last quarter, reflecting a 12.93% ownership by corporate insiders.

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,911 shares of the company's stock after buying an additional 8,930 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Palantir Technologies were worth $5,816,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PLTR. Invesco Ltd. raised its holdings in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Capital World Investors bought a new position in Palantir Technologies in the 4th quarter valued at $253,816,000. Northern Trust Corp raised its position in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Clear Street Derivatives LLC bought a new position in Palantir Technologies in the 4th quarter valued at $216,953,000. Finally, Toronto Dominion Bank raised its position in Palantir Technologies by 266.2% in the 4th quarter. Toronto Dominion Bank now owns 3,932,955 shares of the company's stock valued at $297,449,000 after purchasing an additional 2,859,091 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the transaction, the director directly owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock valued at $191,222,623 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Down 2.6%

Shares of Palantir Technologies stock opened at $154.27 on Monday. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $160.89. The business has a fifty day simple moving average of $140.37 and a 200 day simple moving average of $112.57. The stock has a market cap 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 (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the firm earned $0.08 earnings per share. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Loop Capital lifted their price objective on Palantir Technologies from $155.00 to $178.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. 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. Finally, UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and a consensus price target of $96.45.

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.