Palantir Technologies Inc. (NASDAQ:PLTR) Stake Lessened by MRP Capital Investments LLC

Key Points

• MRP Capital Investments LLC has reduced its stake in Palantir Technologies by 49.7%, selling 20,050 shares and now holding 20,275 shares valued at approximately $1.7 million.
• Palantir Technologies reported $883.86 million in revenue for the quarter, exceeding analyst estimates of $863.89 million, alongside a net margin of 18.32%.
• Institutional investors currently own 45.65% of Palantir's stock, with various hedge funds significantly increasing their stakes in the fourth quarter.

MRP Capital Investments LLC reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,275 shares of the company's stock after selling 20,050 shares during the period. Palantir Technologies accounts for about 1.6% of MRP Capital Investments LLC's portfolio, making the stock its 16th largest holding. MRP Capital Investments LLC's holdings in Palantir Technologies were worth $1,711,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLTR. Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 4,127,306 shares during the last quarter. Northern Trust Corp raised its stake in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after buying an additional 3,299,779 shares in the last quarter. FMR LLC grew its holdings in shares of Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Invesco Ltd. grew its holdings in shares of 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 purchasing an additional 3,509,311 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Palantir Technologies by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock worth $1,099,861,000 after purchasing an additional 187,860 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded up $2.00 during trading on Wednesday, reaching $158.24. The company had a trading volume of 23,280,070 shares, compared to its average volume of 92,975,391. The company has a market cap of $373.44 billion, a price-to-earnings ratio of 689.76, a price-to-earnings-growth ratio of 13.46 and a beta of 2.59. The firm's fifty day moving average is $138.27 and its 200-day moving average is $110.37. 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 issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research reports. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Piper Sandler started coverage on Palantir Technologies in a report on Friday, July 25th. They set an "overweight" rating and a $170.00 price target on the stock. Loop Capital raised their price objective on shares of Palantir Technologies from $155.00 to $178.00 and gave the company a "buy" rating in a research report on Wednesday. Citigroup raised their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, DA Davidson raised their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $96.45.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total value of $5,000,250.00. Following the sale, the insider owned 363,755 shares in the company, valued at approximately $54,563,250. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Glazer sold 3,418 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the sale, the insider owned 492,079 shares in the company, valued at $61,987,191.63. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 over the last quarter. Corporate insiders own 12.93% of the company's stock.

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.