GF Fund Management CO. LTD. Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

GF Fund Management CO. LTD. increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 74.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 466,027 shares of the company's stock after purchasing an additional 199,227 shares during the quarter. Palantir Technologies comprises about 0.9% of GF Fund Management CO. LTD.'s holdings, making the stock its 18th largest position. GF Fund Management CO. LTD.'s holdings in Palantir Technologies were worth $39,333,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. OneDigital Investment Advisors LLC grew its stake in Palantir Technologies by 4.4% during the first 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 in the last quarter. Hartline Investment Corp boosted its holdings in Palantir Technologies by 1.6% in the 1st quarter. Hartline Investment Corp now owns 185,983 shares of the company's stock valued at $15,697,000 after purchasing an additional 2,999 shares during the period. Baker Boyer National Bank bought a new position in Palantir Technologies in the 1st quarter valued at $227,000. Avantax Planning Partners Inc. raised its position in shares of Palantir Technologies by 6.2% in the first quarter. Avantax Planning Partners Inc. now owns 3,165 shares of the company's stock worth $267,000 after buying an additional 185 shares in the last quarter. Finally, Calamos Advisors LLC bought a new stake in Palantir Technologies during the first quarter valued at $53,406,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Up 1.6%

PLTR stock traded up $2.15 during midday trading on Friday, hitting $134.27. The company had a trading volume of 41,812,483 shares, 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 1,119.67, a PEG ratio of 11.47 and a beta of 2.59. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22. The stock's 50 day moving average price is $128.04 and its 200 day moving average price is $101.06.

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, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 earnings per share. Analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Loop Capital set a $155.00 target price on Palantir Technologies and gave the stock a "buy" rating in a research note on Thursday, June 12th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Citigroup boosted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Mizuho raised their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday, June 11th. Five research 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. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $89.32.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 309,696 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 $39,142,477.44. Following the completion of the sale, the insider directly owned 592 shares in the company, valued at approximately $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the transaction, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,451,497 shares of company stock valued at $186,110,685. Company insiders own 9.23% of the company's stock.

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.