Assenagon Asset Management S.A. Buys 6,479 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Assenagon Asset Management S.A. boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 15.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,651 shares of the company's stock after acquiring an additional 6,479 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Palantir Technologies were worth $4,191,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Moseley Investment Management Inc. grew its holdings in Palantir Technologies by 7.3% during the first quarter. Moseley Investment Management Inc. now owns 27,473 shares of the company's stock worth $2,319,000 after purchasing an additional 1,859 shares during the period. Gibson Capital LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at approximately $224,000. Sanibel Captiva Trust Company Inc. bought a new position in shares of Palantir Technologies during the 1st quarter worth approximately $469,000. Ibex Wealth Advisors increased its holdings in shares of Palantir Technologies by 5.0% during the 1st quarter. Ibex Wealth Advisors now owns 186,339 shares of the company's stock worth $15,727,000 after acquiring an additional 8,938 shares during the last quarter. Finally, Sonora Investment Management Group LLC raised its stake in Palantir Technologies by 7.2% in the 1st quarter. Sonora Investment Management Group LLC now owns 8,086 shares of the company's stock valued at $682,000 after acquiring an additional 543 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction 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 sale, the insider now owns 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric H. Woersching sold 17,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the completion of the transaction, the director now owns 12,562 shares of the company's stock, valued at $1,624,140.98. This represents a 57.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,506,925 shares of company stock valued at $188,456,658. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded down $3.21 during trading hours on Tuesday, hitting $138.20. 70,170,459 shares of the stock were exchanged, compared to its average volume of 80,974,097. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $144.86. The company has a market cap of $326.14 billion, a PE ratio of 1,178.42, a price-to-earnings-growth ratio of 11.93 and a beta of 2.64. The company's fifty day simple moving average is $116.76 and its two-hundred day simple moving average is $95.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the company posted $0.08 EPS. The company's revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLTR. Mizuho upped their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective for the company. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, UBS Group lifted their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $86.30.

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.