QRG Capital Management Inc. Decreases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

QRG Capital Management Inc. lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 7.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 378,156 shares of the company's stock after selling 28,426 shares during the quarter. QRG Capital Management Inc.'s holdings in Palantir Technologies were worth $31,916,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PLTR. Assenagon Asset Management S.A. boosted its holdings in shares of Palantir Technologies by 15.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after purchasing an additional 6,479 shares in the last quarter. Pitcairn Co. acquired a new stake in Palantir Technologies in the fourth quarter valued at about $281,000. L.M. Kohn & Company bought a new position in Palantir Technologies in the fourth quarter valued at about $550,000. KLP Kapitalforvaltning AS acquired a new position in Palantir Technologies during the fourth quarter worth about $52,033,000. Finally, Sigma Planning Corp boosted its stake in shares of Palantir Technologies by 27.1% in the 4th quarter. Sigma Planning Corp now owns 85,659 shares of the company's stock valued at $6,478,000 after purchasing an additional 18,286 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $4.01 during mid-day trading on Monday, hitting $141.41. The company had a trading volume of 80,082,439 shares, compared to its average volume of 81,014,821. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $144.74. The firm has a fifty day moving average price of $115.48 and a 200 day moving average price of $95.01. The company has a market capitalization of $333.72 billion, a PE ratio of 744.30, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

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 6.85% and a net margin of 16.13%. The firm's 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.

Analyst Ratings Changes

A number of brokerages have recently commented on PLTR. Mizuho increased their price target on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research note on Wednesday, June 11th. UBS Group increased their target price on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Morgan Stanley boosted their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and an average target price of $86.30.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the business's 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 now directly owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the sale, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by corporate insiders.

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.