Dock Street Asset Management Inc. Acquires 86,514 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Dock Street Asset Management Inc. increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,075,271 shares of the company's stock after buying an additional 86,514 shares during the period. Palantir Technologies comprises approximately 10.7% of Dock Street Asset Management Inc.'s investment portfolio, making the stock its 2nd largest holding. Dock Street Asset Management Inc.'s holdings in Palantir Technologies were worth $90,753,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Hughes Financial Services LLC acquired a new stake in Palantir Technologies in the 1st quarter worth about $111,000. Pittenger & Anderson Inc. increased its position in shares of Palantir Technologies by 3.9% during the first quarter. Pittenger & Anderson Inc. now owns 8,050 shares of the company's stock worth $679,000 after purchasing an additional 300 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in Palantir Technologies in the 1st quarter valued at $150,000. Bradley & Co. Private Wealth Management LLC lifted its holdings in Palantir Technologies by 130.8% in the 1st quarter. Bradley & Co. Private Wealth Management LLC now owns 2,038 shares of the company's stock valued at $172,000 after purchasing an additional 1,155 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Palantir Technologies by 1.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 274,500 shares of the company's stock worth $23,168,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLTR. Wedbush reiterated an "outperform" rating on shares of Palantir Technologies in a report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Daiwa Capital Markets assumed coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target for the company. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $89.32.

Insider Buying and Selling

In related news, insider David A. Glazer sold 30,812 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the sale, the insider directly owned 495,497 shares of the company's stock, valued at $62,625,865.83. This trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,452,297 shares of company stock worth $186,222,373. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR traded down $0.40 during trading hours on Friday, hitting $142.10. The company had a trading volume of 52,005,962 shares, compared to its average volume of 83,326,505. The business has a 50 day moving average of $130.81 and a 200-day moving average of $103.81. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22. The company has a market cap of $335.34 billion, a PE ratio of 617.83, a price-to-earnings-growth ratio of 12.13 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share 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.