NorthRock Partners LLC Raises Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

NorthRock Partners LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,246 shares of the company's stock after purchasing an additional 2,333 shares during the period. NorthRock Partners LLC's holdings in Palantir Technologies were worth $2,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings 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 worth $3,929,401,000 after buying an additional 4,127,306 shares during the period. Wellington Management Group LLP raised its holdings 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 buying an additional 3,907,022 shares during the period. Invesco Ltd. raised its holdings in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the period. Capital World Investors purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $253,816,000. Finally, Northern Trust Corp raised its holdings in shares of Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after buying an additional 3,299,779 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Piper Sandler assumed coverage on Palantir Technologies in a report on Friday, July 25th. They issued an "overweight" rating and a $170.00 price target on the stock. Citigroup raised their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Loop Capital raised their price objective on Palantir Technologies from $155.00 to $178.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. 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 presently has an average rating of "Hold" and a consensus target price of $96.45.

Palantir Technologies Price Performance

NASDAQ PLTR traded down $4.08 during midday trading on Friday, hitting $154.27. 60,986,881 shares of the company traded hands, compared to its average volume of 92,549,563. The company has a market cap of $364.06 billion, a PE ratio of 670.74, a price-to-earnings-growth ratio of 13.52 and a beta of 2.59. The company's 50-day simple moving average is $139.76 and its 200-day simple moving average is $111.35. 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 announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the transaction, the director owned 62,887 shares in the company, valued at $8,779,654.07. This trade represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ryan D. Taylor sold 33,335 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $150.00, for a total value of $5,000,250.00. Following the completion of the transaction, the insider owned 363,755 shares of the company's stock, valued at $54,563,250. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 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.