Martin Capital Advisors LLP Takes $206,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Martin Capital Advisors LLP acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,438 shares of the company's stock, valued at approximately $206,000.

Several other large investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the period. Northern Trust Corp increased its holdings in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Norges Bank purchased a new position in Palantir Technologies during the 4th quarter valued at about $1,360,191,000. FMR LLC increased its holdings in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the period. Finally, Invesco Ltd. increased its holdings in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Institutional investors own 45.65% of the company's stock.

Insider Activity

In other news, insider Ryan D. Taylor sold 35,480 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the sale, the insider directly owned 367,691 shares in the company, valued at $46,472,465.49. This represents a 8.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the sale, the insider owned 592 shares of the company's stock, valued at $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,452,297 shares of company stock worth $186,222,373. Insiders own 12.93% of the company's stock.

Palantir Technologies Trading Down 0.4%

PLTR stock traded down $0.57 during midday trading on Tuesday, hitting $148.58. The company's stock had a trading volume of 58,891,012 shares, compared to its average volume of 83,223,136. The company has a market cap of $350.64 billion, a PE ratio of 646.00, a P/E/G ratio of 12.13 and a beta of 2.59. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $150.57. The firm's 50-day moving average is $131.31 and its 200-day moving average is $104.45.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm's quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 EPS. 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 brokerages recently issued reports on PLTR. Wedbush set a $160.00 price target on Palantir Technologies in a report on Thursday. DA Davidson boosted their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Citigroup lifted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Daiwa Capital Markets began coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective on the stock. Finally, UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $90.37.

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.