Kesler Norman & Wride LLC Raises Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Kesler Norman & Wride LLC raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 82.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,013 shares of the company's stock after buying an additional 11,322 shares during the quarter. Kesler Norman & Wride LLC's holdings in Palantir Technologies were worth $2,111,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in Palantir Technologies by 15.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after buying an additional 6,479 shares in the last quarter. Pitcairn Co. purchased a new stake in Palantir Technologies in the 4th quarter valued at $281,000. Sagespring Wealth Partners LLC lifted its stake in shares of Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after purchasing an additional 6,405 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $52,033,000. Finally, CX Institutional acquired a new position in shares of Palantir Technologies in the 1st quarter valued at $62,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $142.50 on Friday. The business's fifty day moving average price is $130.45 and its 200 day moving average price is $103.25. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22. The firm has a market capitalization of $336.29 billion, a PE ratio of 619.57, a P/E/G ratio of 12.22 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The company 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%. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. Equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 33,335 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the sale, the insider directly owned 363,755 shares in the company, valued at $49,219,689.05. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 34,357 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.96, for a total value of $4,327,607.72. Following the completion of the sale, the insider owned 592 shares in the company, valued at $74,568.32. This represents a 98.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,451,497 shares of company stock valued at $186,110,685. Insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

PLTR has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. 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 note on Tuesday, May 6th. Mizuho upped their price target on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research note on Wednesday, June 11th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Finally, Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $89.32.

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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