Palantir Technologies Inc. (NASDAQ:PLTR) is Kirtland Hills Capital Management LLC's 6th Largest Position

Key Points

• Kirtland Hills Capital Management LLC increased its stake in Palantir Technologies by 41%, making it the fund's 6th largest holding with a value of approximately $3.81 million.
• Insider Shyam Sankar sold 405,000 shares of Palantir stock for over $53 million, reducing his ownership by 36.56%.
• Palantir's stock has a consensus rating of Hold from analysts, with an average target price of $95.30, while its recent earnings report showed a 39.4% increase in revenue year-over-year.

Kirtland Hills Capital Management LLC lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 41.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,131 shares of the company's stock after acquiring an additional 13,134 shares during the period. Palantir Technologies accounts for about 2.3% of Kirtland Hills Capital Management LLC's holdings, making the stock its 6th biggest position. Kirtland Hills Capital Management LLC's holdings in Palantir Technologies were worth $3,809,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Assenagon Asset Management S.A. raised its stake in shares of Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after buying an additional 6,479 shares in the last quarter. Garrison Bradford & Associates Inc. acquired a new position in Palantir Technologies during the first quarter worth $45,000. Pitcairn Co. purchased a new position in Palantir Technologies in the fourth quarter worth $281,000. TCW Group Inc. raised its position in Palantir Technologies by 14.5% in the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after acquiring an additional 4,068 shares in the last quarter. Finally, Sagespring Wealth Partners LLC lifted its holdings in Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after acquiring an additional 6,405 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PLTR. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Piper Sandler initiated coverage on shares of Palantir Technologies in a research report on Friday, July 25th. They set an "overweight" rating and a $170.00 target price on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Wedbush set a $160.00 price target on Palantir Technologies in a research note on Thursday, July 10th. Finally, Morgan Stanley upped their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $96.45.

Palantir Technologies Price Performance

PLTR traded down $2.90 during trading on Friday, hitting $155.45. The company's stock had a trading volume of 46,248,817 shares, compared to its average volume of 92,439,523. The firm's 50 day moving average price is $139.76 and its 200-day moving average price is $111.35. The stock has a market cap of $366.86 billion, a PE ratio of 678.05, a PEG ratio of 13.52 and a beta of 2.59. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $160.89.

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

Insider Activity

In other news, insider David A. Glazer sold 30,812 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the sale, the insider directly owned 495,497 shares in the company, valued at $62,625,865.83. This represents a 5.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on 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 completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,485,632 shares of company stock valued at $191,222,623 in the last ninety days. 9.23% of the stock is owned by company insiders.

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.