Catalina Capital Group LLC Has $295,000 Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Catalina Capital Group LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 51.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,494 shares of the company's stock after selling 3,760 shares during the period. Catalina Capital Group LLC's holdings in Palantir Technologies were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $1,360,191,000. Geode Capital Management LLC lifted its stake in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP boosted its position in Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. grew its stake in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors acquired a new position in shares of Palantir Technologies during the fourth quarter worth $253,816,000. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent research reports. Citigroup boosted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $98.00 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 assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $89.32.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock traded up $1.76 on Thursday, hitting $139.96. 58,100,428 shares of the company's stock traded hands, compared to its average volume of 81,096,965. The company has a fifty day moving average of $118.64 and a two-hundred day moving average of $96.13. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $144.86. The company has a market capitalization of $330.29 billion, a price-to-earnings ratio of 608.52, a price-to-earnings-growth ratio of 11.66 and a beta of 2.64.

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

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.