Mediolanum International Funds Ltd Purchases 8,121 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Mediolanum International Funds Ltd increased its holdings in Palantir Technologies by 8,121 shares, bringing their total ownership to 338,827 shares, valued at approximately $29 million.
• Several institutional investors also adjusted their positions, with 45.65% of Palantir stock now owned by such investors.
• Palantir's stock has experienced significant price fluctuations, with a 52-week low of $21.23 and a high of $160.39, while its current market cap stands at $374.75 billion.

Mediolanum International Funds Ltd lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 338,827 shares of the company's stock after purchasing an additional 8,121 shares during the quarter. Mediolanum International Funds Ltd's holdings in Palantir Technologies were worth $29,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies in the first quarter worth about $25,000. Cornerstone Planning Group LLC grew its position in shares of Palantir Technologies by 90.2% in the 1st 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 Palantir Technologies during the 1st quarter worth approximately $33,000. Atlantic Edge Private Wealth Management LLC increased its stake in Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after purchasing an additional 125 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its stake in 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 buying an additional 224 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. DA Davidson increased their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Citigroup upped their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and a consensus target price of $95.30.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $158.80 on Friday. The company's 50-day moving average is $137.03 and its 200-day moving average is $108.85. The firm has a market capitalization of $374.75 billion, a PE ratio of 690.43, a P/E/G ratio of 13.22 and a beta of 2.59. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $160.39.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates 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 return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the company posted $0.08 earnings per share. As a group, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 35,480 shares of the 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 sale, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. This represents a 8.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock worth $191,222,623 in the last three months. 9.23% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.