Neo Ivy Capital Management Has $2.24 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Neo Ivy Capital Management significantly reduced its holdings in Palantir Technologies, selling 47,156 shares and leaving them with 26,572 shares, valued at approximately $2.24 million.
• Palantir Technologies reported a net margin of 18.32% and achieved a revenue of $883.86 million for the most recent quarter, surpassing analyst estimates of $863.89 million.
• Equities analysts have a consensus rating of "Hold" for Palantir Technologies, with various price targets, including a recent increase to $90.00 by Goldman Sachs.

Neo Ivy Capital Management trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 64.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,572 shares of the company's stock after selling 47,156 shares during the period. Neo Ivy Capital Management's holdings in Palantir Technologies were worth $2,243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Northern Trust Corp boosted its position in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Norges Bank bought a new position in shares of Palantir Technologies in the 4th quarter worth $1,360,191,000. FMR LLC boosted its position in shares of Palantir Technologies by 22.6% in the 4th 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. Finally, Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% in the 4th 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. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. Wedbush set a $160.00 price target on Palantir Technologies in a research report on Thursday, July 10th. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Citigroup boosted their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $95.30.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction that occurred 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 transaction, the insider owned 592 shares in the company, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was 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 represents a 36.56% 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 in the last ninety days. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Down 0.6%

NASDAQ:PLTR traded down $0.89 on Monday, hitting $157.91. The company's stock had a trading volume of 30,150,966 shares, compared to its average volume of 93,570,648. The stock has a fifty day moving average of $137.03 and a two-hundred day moving average of $109.42. The firm has a market capitalization of $372.66 billion, a P/E ratio of 687.00, a price-to-earnings-growth ratio of 13.54 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $160.39.

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 firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current 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.