Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Ring Mountain Capital LLC

Ring Mountain Capital LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 101.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,116 shares of the company's stock after purchasing an additional 3,084 shares during the quarter. Ring Mountain Capital LLC's holdings in Palantir Technologies were worth $516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creekmur Asset Management LLC grew its position in shares of Palantir Technologies by 60.3% in the 1st quarter. Creekmur Asset Management LLC now owns 11,642 shares of the company's stock valued at $983,000 after buying an additional 4,381 shares during the last quarter. Alexander Labrunerie & CO. Inc. purchased a new position in shares of Palantir Technologies in the 1st quarter valued at $242,000. Independent Wealth Network Inc. grew its position in shares of Palantir Technologies by 2.0% in the 1st quarter. Independent Wealth Network Inc. now owns 21,865 shares of the company's stock valued at $1,845,000 after buying an additional 419 shares during the last quarter. Sachetta LLC grew its position in Palantir Technologies by 190.2% during the 1st quarter. Sachetta LLC now owns 3,308 shares of the company's stock worth $279,000 after purchasing an additional 2,168 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its position in Palantir Technologies by 61.5% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 19,490 shares of the company's stock worth $1,645,000 after purchasing an additional 7,419 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, the director directly owned 2,348 shares of the company's stock, valued at approximately $307,470.60. This represents a 81.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Glazer sold 3,418 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the transaction, the insider owned 492,079 shares of the company's stock, valued at $61,987,191.63. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock valued at $191,222,623 over the last ninety days. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Down 0.1%

PLTR traded down $0.11 during trading on Friday, hitting $153.88. 5,120,314 shares of the company's stock were exchanged, compared to its average volume of 83,117,886. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $155.68. The stock has a 50 day moving average price of $133.61 and a 200 day moving average price of $105.61. The firm has a market cap of $363.14 billion, a P/E ratio of 669.58, a price-to-earnings-growth ratio of 12.88 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the company posted $0.08 earnings per share. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. Analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PLTR shares. The Goldman Sachs Group raised 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. Citigroup raised their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a research report on Thursday, July 10th. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $91.37.

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.

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