Machina Capital S.A.S. Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Machina Capital S.A.S. grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 362.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,182 shares of the company's stock after buying an additional 18,957 shares during the quarter. Machina Capital S.A.S.'s holdings in Palantir Technologies were worth $2,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Dorsey Wright & Associates purchased a new position in Palantir Technologies during the 1st quarter valued at about $8,379,000. Opes Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the first quarter worth about $227,000. M1 Capital Management LLC boosted its stake in shares of Palantir Technologies by 29.7% in the first quarter. M1 Capital Management LLC now owns 6,758 shares of the company's stock valued at $570,000 after purchasing an additional 1,548 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Palantir Technologies by 30.3% in the first quarter. Wedbush Securities Inc. now owns 230,052 shares of the company's stock valued at $19,416,000 after purchasing an additional 53,470 shares during the period. Finally, Garrison Bradford & Associates Inc. acquired a new position in shares of Palantir Technologies in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PLTR shares. Cantor Fitzgerald raised their price target 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. Piper Sandler initiated coverage on Palantir Technologies in a research note on Friday. They issued an "overweight" rating and a $170.00 price objective for the company. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. Citigroup lifted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $95.30.

Palantir Technologies Price Performance

Shares of PLTR traded up $3.94 during midday trading on Friday, reaching $158.80. 57,707,820 shares of the stock were exchanged, compared to its average volume of 64,807,624. The company has a market capitalization of $374.75 billion, a price-to-earnings ratio of 1,290.50, a PEG ratio of 13.22 and a beta of 2.59. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $160.39. The business's 50-day moving average price is $136.44 and its 200 day moving average price is $108.24.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data 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 during 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 revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the company'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 sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the sale, the insider owned 367,691 shares of the company's stock, valued at $46,472,465.49. This trade represents a 8.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock worth $191,222,623 in the last three months. Company insiders own 9.23% of the company's stock.

Palantir Technologies Company 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.