New Republic Capital LLC Acquires Shares of 2,741 Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• New Republic Capital LLC has acquired a new stake in Palantir Technologies, purchasing 2,741 shares valued at approximately $231,000 during the first quarter.
• A significant number of institutional investors have been active, with some increasing their holdings by as much as 132.8%, indicating growing interest in Palantir Technologies.
• Palantir's stock has a current market capitalization of $374.75 billion, and its recent earnings report showed a revenue increase of 39.4% year-over-year.

New Republic Capital LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,741 shares of the company's stock, valued at approximately $231,000.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its position in Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after acquiring an additional 6,479 shares during the last quarter. Garrison Bradford & Associates Inc. bought a new position in shares of Palantir Technologies in the first quarter worth about $45,000. Pitcairn Co. acquired a new position in shares of Palantir Technologies during the fourth quarter worth approximately $281,000. TCW Group Inc. grew its stake in shares of Palantir Technologies by 14.5% during the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock valued at $2,703,000 after purchasing an additional 4,068 shares during the last quarter. Finally, Sagespring Wealth Partners LLC grew its stake in shares of Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after purchasing an additional 6,405 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Piper Sandler assumed coverage on Palantir Technologies in a research report on Friday, July 25th. They issued an "overweight" rating and a $170.00 price objective on the stock. Wedbush set a $160.00 price objective on Palantir Technologies in a report on Thursday, July 10th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $96.45.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David A. Glazer sold 3,418 shares of the stock in a transaction dated 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 transaction, the insider directly owned 492,079 shares in the company, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,485,632 shares of company stock worth $191,222,623. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

NASDAQ PLTR traded down $0.12 on Thursday, hitting $158.49. 33,622,350 shares of the stock were exchanged, compared to its average volume of 92,677,438. The company has a market capitalization of $374.03 billion, a PE ratio of 689.72, a P/E/G ratio of 13.32 and a beta of 2.59. The business's fifty day moving average is $139.03 and its 200 day moving average is $110.71. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $160.89.

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. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the company posted $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. Analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.