Lee Johnson Capital Management LLC Buys New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Lee Johnson Capital Management LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,458 shares of the company's stock, valued at approximately $4,259,000. Palantir Technologies makes up 2.3% of Lee Johnson Capital Management LLC's investment portfolio, making the stock its 12th largest holding.

A number of other institutional investors have also recently made changes to their positions in PLTR. Assenagon Asset Management S.A. lifted its holdings in shares of 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 acquiring an additional 6,479 shares during the last quarter. Pitcairn Co. bought a new position in shares of Palantir Technologies in the 4th quarter valued at about $281,000. Sagespring Wealth Partners LLC lifted its holdings 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 acquiring an additional 6,405 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Palantir Technologies in the 4th quarter valued at about $52,033,000. Finally, CX Institutional bought a new position in shares of Palantir Technologies in the 1st quarter valued at about $62,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 34,357 shares of Palantir Technologies stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.96, for a total transaction of $4,327,607.72. Following the completion of the sale, the insider directly owned 592 shares in the company, valued at approximately $74,568.32. The trade was a 98.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eric H. Woersching sold 10,214 shares of Palantir Technologies stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, the director owned 2,348 shares of the company's stock, valued at $307,470.60. The trade was a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,451,497 shares of company stock valued at $186,110,685. Company insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

NASDAQ PLTR traded up $3.42 on Wednesday, hitting $143.13. The stock had a trading volume of 68,255,104 shares, compared to its average volume of 83,069,071. The business's fifty day moving average price is $129.43 and its 200 day moving average price is $102.55. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The stock has a market cap of $337.77 billion, a price-to-earnings ratio of 622.30, a price-to-earnings-growth ratio of 11.93 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the company earned $0.08 earnings per share. The business's revenue for the quarter was up 39.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the subject of a number of analyst reports. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Morgan Stanley raised their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $89.32.

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.