Mitchell Mcleod Pugh & Williams Inc. Has $1.11 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 286.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,110 shares of the company's stock after buying an additional 9,714 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.'s holdings in Palantir Technologies were worth $1,106,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares during the period. Pitcairn Co. bought a new position in shares of Palantir Technologies in the 4th quarter worth about $281,000. Sagespring Wealth Partners LLC boosted its holdings in shares of Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after buying an additional 6,405 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $52,033,000. Finally, CX Institutional acquired a new stake in Palantir Technologies during the first quarter worth about $62,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the sale, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,452,297 shares of company stock worth $186,222,373. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock traded up $7.05 during mid-day trading on Monday, hitting $149.15. 81,498,736 shares of the stock traded hands, compared to its average volume of 96,976,188. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $149.58. The company's 50-day simple moving average is $130.81 and its 200-day simple moving average is $103.96. The firm has a market cap of $351.98 billion, a price-to-earnings ratio of 648.48, a price-to-earnings-growth ratio of 12.13 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate 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 net margin of 18.32% and a return on equity of 6.55%. The business's quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 earnings per share. Analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

PLTR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note 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 research report on Tuesday, May 6th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Morgan Stanley raised their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, UBS Group restated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $90.37.

About Palantir Technologies

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.