Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by Manchester Capital Management LLC

Key Points

• Manchester Capital Management LLC increased its holdings in Palantir Technologies by 152.3%, owning 9,024 shares valued at $762,000 as of its latest SEC filing.
• Insiders at Palantir have sold a total of 1,485,632 shares worth approximately $191 million over the last quarter, indicating notable insider activity.
• Palantir Technologies reported a 39.4% year-over-year revenue increase, with quarterly earnings meeting expectations at $0.13 per share.

Manchester Capital Management LLC increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 152.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,024 shares of the company's stock after purchasing an additional 5,448 shares during the quarter. Manchester Capital Management LLC's holdings in Palantir Technologies were worth $762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies in the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its position in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares during the period. Richardson Capital Management LLC bought a new stake in shares of Palantir Technologies in the first quarter valued at approximately $33,000. Atlantic Edge Private Wealth Management LLC raised its position in shares of Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares during the period. Finally, CBIZ Investment Advisory Services LLC raised its position in shares of Palantir Technologies by 118.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company's stock valued at $35,000 after purchasing an additional 224 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the sale, the insider owned 592 shares in the company, valued at $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,485,632 shares of company stock worth $191,222,623. Insiders own 12.93% of the company's stock.

Palantir Technologies Stock Performance

PLTR stock traded down $4.08 during trading on Friday, reaching $154.27. The company had a trading volume of 60,986,881 shares, compared to its average volume of 55,720,096. The firm has a 50-day simple moving average of $140.37 and a 200-day simple moving average of $112.57. The company has a market cap of $364.06 billion, a price-to-earnings ratio of 670.74, a price-to-earnings-growth ratio of 13.15 and a beta of 2.60. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $160.89.

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, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on PLTR. DA Davidson boosted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Citigroup upped their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Four equities research 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.