150,000 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Bought by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC has acquired a new stake in Palantir Technologies Inc. by purchasing 150,000 shares valued at approximately $12.66 million in the first quarter.
• Palantir reported a quarterly earnings per share (EPS) of $0.16, surpassing analysts' expectations of $0.14, with a revenue of $1 billion, a 48% increase year-over-year.
• Several investment firms have raised their price targets for Palantir, with Bank of America increasing its target from $150 to $180, maintaining a "buy" rating.

Mizuho Markets Americas LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 150,000 shares of the company's stock, valued at approximately $12,660,000.

Several other large investors have also recently added to or reduced their stakes in PLTR. Mechanics Financial Corp acquired a new position in Palantir Technologies in the 1st quarter valued at approximately $25,000. Richardson Capital Management LLC acquired a new position in Palantir Technologies in the 1st quarter valued at approximately $33,000. Cornerstone Planning Group LLC grew its stake 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. Atlantic Edge Private Wealth Management LLC grew its stake in shares of Palantir Technologies by 45.5% in the 1st 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, Godsey & Gibb Inc. grew its stake in shares of Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analyst Weigh In

PLTR has been the topic of several analyst reports. Piper Sandler set a $182.00 price objective on Palantir Technologies in a research note on Tuesday. Loop Capital upped their price objective on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday. Bank of America upped their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday. Cantor Fitzgerald upped their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $136.61.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 358,982 shares of the firm'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 $45,371,734.98. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at $812,973,088.62. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,515,632 shares of company stock worth $196,472,623. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

PLTR traded up $4.76 during mid-day trading on Friday, reaching $186.96. The stock had a trading volume of 62,386,781 shares, compared to its average volume of 61,219,692. The stock has a market capitalization of $441.21 billion, a P/E ratio of 623.22, a P/E/G ratio of 11.88 and a beta of 2.60. The firm's fifty day simple moving average is $145.64 and its two-hundred day simple moving average is $115.87. Palantir Technologies Inc. has a 52 week low of $29.10 and a 52 week high of $187.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The business's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. As a group, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.