Main Street Research LLC Has $76.44 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Main Street Research LLC grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 905,633 shares of the company's stock after purchasing an additional 7,913 shares during the quarter. Palantir Technologies accounts for about 5.0% of Main Street Research LLC's holdings, making the stock its 2nd biggest holding. Main Street Research LLC's holdings in Palantir Technologies were worth $76,435,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC purchased a new position in shares of Palantir Technologies in the 4th quarter valued at approximately $450,000. Assetmark Inc. boosted its position in shares of Palantir Technologies by 46.3% in the fourth quarter. Assetmark Inc. now owns 1,191 shares of the company's stock worth $90,000 after acquiring an additional 377 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $522,000. PNC Financial Services Group Inc. lifted its stake in shares of Palantir Technologies by 128.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 245,032 shares of the company's stock worth $18,532,000 after purchasing an additional 137,577 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in Palantir Technologies in the 4th quarter worth $560,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

PLTR traded up $3.42 on Wednesday, hitting $143.13. 68,255,104 shares of the stock were exchanged, compared to its average volume of 83,069,071. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $148.22. The firm has a market capitalization of $337.77 billion, a price-to-earnings ratio of 1,164.25, a PEG ratio of 11.93 and a beta of 2.59. The business has a 50-day moving average of $129.43 and a two-hundred day moving average of $102.55.

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, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the business posted $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. Equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the topic of several research analyst reports. Citigroup raised their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. The Goldman Sachs Group increased their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley increased their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and a consensus price target of $89.32.

Insider Activity at Palantir Technologies

In other news, Director Eric H. Woersching sold 10,214 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the transaction, the director directly owned 2,348 shares of the company's stock, valued at $307,470.60. This represents a 81.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David A. Glazer sold 3,418 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the transaction, the insider directly owned 492,079 shares of the company's stock, valued at $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,451,497 shares of company stock worth $186,110,685. Corporate insiders own 9.23% of the company's stock.

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.