Kessler Investment Group LLC Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Kessler Investment Group LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,887 shares of the company's stock after purchasing an additional 3,003 shares during the quarter. Palantir Technologies makes up approximately 4.4% of Kessler Investment Group LLC's holdings, making the stock its 4th biggest position. Kessler Investment Group LLC's holdings in Palantir Technologies were worth $9,021,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Assenagon Asset Management S.A. lifted its position in shares of Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after buying an additional 6,479 shares during the last quarter. Pitcairn Co. acquired a new stake in shares of Palantir Technologies in the fourth quarter worth about $281,000. Sagespring Wealth Partners LLC lifted its position in shares of Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after buying an additional 6,405 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Palantir Technologies in the fourth quarter worth about $52,033,000. Finally, CX Institutional acquired a new position in shares of Palantir Technologies during the 1st quarter worth about $62,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded down $13.51 during trading hours on Friday, reaching $130.74. The stock had a trading volume of 200,764,922 shares, compared to its average volume of 82,409,392. The business's fifty day moving average is $125.24 and its two-hundred day moving average is $99.62. The company has a market cap of $308.53 billion, a price-to-earnings ratio of 568.43, a PEG ratio of 11.16 and a beta of 2.64. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The business 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%. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now directly owns 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PLTR. Daiwa Capital Markets began coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. Citigroup boosted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Cantor Fitzgerald boosted 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. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research report on Wednesday. Finally, Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $89.32.

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.