OVERSEA CHINESE BANKING Corp Ltd Buys 3,111 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Palantir Technologies by 16.3%, owning a total of 22,250 shares worth approximately $1,878,000 post-transaction.
• Palantir's stock has witnessed significant activity, with insiders selling a total of 1,485,632 shares valued at around $191.2 million over the last 90 days.
• The company reported quarterly earnings of $0.13 per share, with revenue up 39.4% year-over-year, highlighting strong financial growth despite a volatile stock performance.

OVERSEA CHINESE BANKING Corp Ltd increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,250 shares of the company's stock after purchasing an additional 3,111 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Palantir Technologies were worth $1,878,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PLTR. Assenagon Asset Management S.A. raised its holdings in shares of Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after buying an additional 6,479 shares in the last quarter. Garrison Bradford & Associates Inc. purchased a new position in shares of Palantir Technologies during the 1st quarter valued at about $45,000. Menard Financial Group LLC raised its holdings in shares of Palantir Technologies by 8.2% during the 1st quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock valued at $2,189,000 after buying an additional 1,964 shares in the last quarter. Pitcairn Co. purchased a new position in shares of Palantir Technologies during the 4th quarter valued at about $281,000. Finally, TCW Group Inc. raised its holdings in shares of Palantir Technologies by 14.5% during the 1st quarter. TCW Group Inc. now owns 32,031 shares of the company's stock valued at $2,703,000 after buying an additional 4,068 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the sale, the insider owned 367,691 shares in the company, valued at $46,472,465.49. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $154.27 on Friday. The stock has a 50-day simple moving average of $140.37 and a two-hundred day simple moving average of $112.27. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $160.89. The firm has a market capitalization of $364.06 billion, a PE ratio of 670.74, a P/E/G ratio of 13.15 and a beta of 2.60.

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 for the quarter, hitting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million during 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 quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on PLTR. Piper Sandler began coverage on Palantir Technologies in a research report on Friday, July 25th. They set an "overweight" rating and a $170.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Loop Capital raised their price target on Palantir Technologies from $155.00 to $178.00 and gave the stock a "buy" rating in a research report on Wednesday. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, DA Davidson lifted their price objective on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $96.45.

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.

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