Palantir Technologies Inc. (NASDAQ:PLTR) Stock Holdings Lifted by Main Street Research LLC

Main Street Research LLC boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 905,633 shares of the company's stock after acquiring an additional 7,913 shares during the period. Palantir Technologies accounts for 5.0% of Main Street Research LLC's portfolio, making the stock its 2nd largest position. Main Street Research LLC's holdings in Palantir Technologies were worth $76,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in PLTR. Richardson Capital Management LLC bought a new position in Palantir Technologies during the first quarter worth $33,000. Cornerstone Planning Group LLC grew its position in Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $34,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after buying an additional 125 shares during the last quarter. Finally, Godsey & Gibb Inc. boosted its position in shares of Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after buying an additional 370 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLTR has been the topic of several recent analyst reports. Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Wedbush restated an "outperform" rating on shares of Palantir Technologies in a research note on Thursday. Citigroup upped their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Morgan Stanley upped their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $89.32.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the transaction, the insider owned 367,691 shares of the company's stock, valued at $46,472,465.49. The trade was a 8.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,451,497 shares of company stock valued at $186,110,685 in the last ninety days. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Down 0.7%

Shares of PLTR stock traded down $1.01 during trading hours on Thursday, reaching $142.12. 49,003,822 shares of the stock traded hands, compared to its average volume of 82,939,694. The firm has a market capitalization of $335.38 billion, a PE ratio of 616.53, a PEG ratio of 11.93 and a beta of 2.59. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22. The business has a fifty day moving average price of $129.92 and a 200 day moving average price of $102.83.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. Research 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.