OLD National Bancorp IN Boosts Position in Palantir Technologies Inc. (NASDAQ:PLTR)

OLD National Bancorp IN lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 137.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,966 shares of the company's stock after buying an additional 5,762 shares during the quarter. OLD National Bancorp IN's holdings in Palantir Technologies were worth $841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PLTR. Roxbury Financial LLC acquired a new stake in Palantir Technologies during the fourth quarter worth about $27,000. HighMark Wealth Management LLC raised its holdings in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after buying an additional 166 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at $31,000. First Command Advisory Services Inc. acquired a new position in Palantir Technologies during the 4th quarter worth about $34,000. Finally, Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Performance

PLTR traded up $0.75 during mid-day trading on Tuesday, reaching $132.81. 69,098,473 shares of the stock were exchanged, compared to its average volume of 79,996,865. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $135.28. The stock has a market capitalization of $313.42 billion, a PE ratio of 699.04, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. The company has a 50 day moving average price of $110.90 and a two-hundred day moving average price of $93.06.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $85.30, for a total value of $106,625,000.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $50,497.60. The trade was a 99.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,894,925 shares of company stock worth $369,820,528. Insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PLTR. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Royal Bank of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Mizuho raised their target price on Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group increased their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $83.95.

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.