Citizens Financial Group Inc. RI boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 48.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,786 shares of the company's stock after acquiring an additional 3,530 shares during the period. Citizens Financial Group Inc. RI's holdings in Palantir Technologies were worth $910,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mechanics Financial Corp purchased a new stake in Palantir Technologies in the 1st quarter worth approximately $25,000. Richardson Capital Management LLC acquired a new stake in shares of Palantir Technologies in the first quarter worth approximately $33,000. Cornerstone Planning Group LLC grew its holdings in Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares during the period. Atlantic Edge Private Wealth Management LLC grew its holdings in Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares during the period. Finally, Godsey & Gibb Inc. increased its position in 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 purchasing an additional 370 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.
Palantir Technologies Stock Up 2.6%
Shares of PLTR traded up $4.76 during trading on Friday, reaching $186.96. The company's stock had a trading volume of 62,386,781 shares, compared to its average volume of 61,219,692. The company has a fifty day moving average of $145.64 and a two-hundred day moving average of $115.61. Palantir Technologies Inc. has a twelve month low of $29.10 and a twelve month high of $187.99. The company has a market cap of $441.21 billion, a price-to-earnings ratio of 623.22, a P/E/G ratio of 11.57 and a beta of 2.60.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same period in the prior year, the company posted $0.09 EPS. Palantir Technologies's quarterly revenue was up 48.0% on a year-over-year basis. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have weighed in on PLTR. Loop Capital lifted their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday. The Goldman Sachs Group boosted their price target on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday. DA Davidson raised their price objective on Palantir Technologies from $115.00 to $170.00 and gave the stock a "neutral" rating in a report on Tuesday. Royal Bank Of Canada lifted their price objective on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday. Finally, Cantor Fitzgerald lifted their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $136.61.
Check Out Our Latest Stock Report on PLTR
Insider Buying and Selling
In other news, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 35,480 shares of the firm'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 $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares in the company, valued at $46,472,465.49. This represents a 8.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,515,632 shares of company stock worth $196,472,623. 9.23% of the stock is currently owned by insiders.
Palantir Technologies Company Profile
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Free Report)
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.
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