Pacific Heights Asset Management LLC Purchases 1,340,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Pacific Heights Asset Management LLC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 992.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,475,000 shares of the company's stock after purchasing an additional 1,340,000 shares during the quarter. Palantir Technologies accounts for 8.5% of Pacific Heights Asset Management LLC's holdings, making the stock its 2nd biggest holding. Pacific Heights Asset Management LLC owned approximately 0.06% of Palantir Technologies worth $124,490,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. IFM Investors Pty Ltd increased its position in shares of Palantir Technologies by 8.4% during the 1st quarter. IFM Investors Pty Ltd now owns 406,681 shares of the company's stock valued at $34,324,000 after purchasing an additional 31,491 shares during the last quarter. GF Fund Management CO. LTD. boosted its holdings in Palantir Technologies by 74.7% during the 1st quarter. GF Fund Management CO. LTD. now owns 466,027 shares of the company's stock valued at $39,333,000 after acquiring an additional 199,227 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Palantir Technologies by 4.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 37,676 shares of the company's stock valued at $3,180,000 after acquiring an additional 1,588 shares during the period. Hartline Investment Corp boosted its holdings in Palantir Technologies by 1.6% during the 1st quarter. Hartline Investment Corp now owns 185,983 shares of the company's stock valued at $15,697,000 after acquiring an additional 2,999 shares during the period. Finally, Baker Boyer National Bank purchased a new position in Palantir Technologies during the 1st quarter valued at $227,000. Institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the transaction, the insider directly owned 592 shares of the company's stock, valued at $74,822.88. This represents a 99.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider directly owned 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 disclosure for this sale can be found here. Insiders sold a total of 1,451,497 shares of company stock worth $186,110,685 over the last ninety days. Corporate insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent analyst reports. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. DA Davidson boosted their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Citigroup boosted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, The Goldman Sachs Group upped their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies Stock Up 1.6%

Shares of NASDAQ PLTR traded up $2.15 during mid-day trading on Friday, reaching $134.27. 41,812,483 shares of the company were exchanged, compared to its average volume of 82,906,073. The stock has a market cap of $316.85 billion, a price-to-earnings ratio of 583.76, a P/E/G ratio of 11.47 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 firm has a 50-day moving average of $128.47 and a 200 day moving average of $101.48.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued 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 analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies 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.