Kovitz Investment Group Partners LLC Boosts Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Kovitz Investment Group Partners LLC boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 43.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 150,615 shares of the company's stock after buying an additional 45,840 shares during the period. Kovitz Investment Group Partners LLC's holdings in Palantir Technologies were worth $12,712,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its stake in shares of Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after purchasing an additional 6,479 shares during the period. Garrison Bradford & Associates Inc. purchased a new stake in shares of Palantir Technologies during the first quarter valued at approximately $45,000. Menard Financial Group LLC raised its stake in shares of Palantir Technologies by 8.2% during the first quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock valued at $2,189,000 after purchasing an additional 1,964 shares during the period. TCW Group Inc. raised its stake in shares of Palantir Technologies by 14.5% during the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock valued at $2,703,000 after purchasing an additional 4,068 shares during the period. Finally, Sagespring Wealth Partners LLC raised its stake in shares of Palantir Technologies by 36.3% during the first 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 period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 1.8%

Shares of Palantir Technologies stock opened at $181.02 on Friday. The company's 50-day moving average price is $150.04 and its two-hundred day moving average price is $118.54. Palantir Technologies Inc. has a 52 week low of $29.31 and a 52 week high of $190.00. The stock has a market cap of $427.19 billion, a PE ratio of 603.42, a price-to-earnings-growth ratio of 10.39 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same period in the previous year, the business earned $0.09 earnings per share. Palantir Technologies's revenue for the quarter was up 48.0% compared to the same quarter last year. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Piper Sandler set a $182.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 5th. Citigroup restated a "neutral" rating and issued a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. UBS Group restated a "neutral" rating and issued a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $136.61.

Insider Transactions 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 transaction of $111,688.00. Following the sale, the director owned 62,887 shares in the company, valued at approximately $8,779,654.07. The trade was a 1.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock valued at $196,472,623 in the last quarter. 9.23% of the stock is owned by company insiders.

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.

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