Meridian Investment Counsel Inc. Has $4.65 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Meridian Investment Counsel Inc. lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,135 shares of the company's stock after selling 2,465 shares during the quarter. Palantir Technologies makes up about 1.4% of Meridian Investment Counsel Inc.'s investment portfolio, making the stock its 15th largest holding. Meridian Investment Counsel Inc.'s holdings in Palantir Technologies were worth $4,653,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC raised its position 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 valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP increased its stake in shares of Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after purchasing an additional 3,907,022 shares during the period. Invesco Ltd. increased its position in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Finally, Capital World Investors acquired a new stake in Palantir Technologies during the fourth quarter worth about $253,816,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $3.83 during trading on Monday, reaching $138.19. 27,917,779 shares of the company were exchanged, compared to its average volume of 82,847,509. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The company has a market capitalization of $326.10 billion, a P/E ratio of 602.27, a PEG ratio of 11.47 and a beta of 2.59. The stock's 50 day simple moving average is $128.47 and its two-hundred day simple moving average is $101.88.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 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 company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the business earned $0.08 EPS. The business's revenue was up 39.4% on a year-over-year basis. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Mizuho raised their price target on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 11th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $89.32.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on 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 sale, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric H. Woersching sold 10,214 shares of Palantir Technologies stock in a transaction dated Tuesday, July 1st. The shares were 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 in the company, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,451,497 shares of company stock valued at $186,110,685. 12.93% of the stock is currently owned by insiders.

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.