Kercheville Advisors LLC Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Kercheville Advisors LLC decreased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 46.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,375 shares of the company's stock after selling 12,560 shares during the period. Kercheville Advisors LLC's holdings in Palantir Technologies were worth $1,213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC boosted its stake in shares of 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 in the last quarter. Wellington Management Group LLP grew its holdings in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after purchasing an additional 3,907,022 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors purchased a new position in Palantir Technologies in the 4th quarter worth $253,816,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PLTR shares. Cantor Fitzgerald raised their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Daiwa Capital Markets began coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price for the company. DA Davidson raised their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Finally, Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $89.32.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 309,696 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 592 shares of the company's stock, valued at $74,822.88. This trade represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock valued at $188,456,658 in the last 90 days. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 1.3%

Shares of PLTR stock traded up $1.76 during trading hours 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. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $144.86. The stock has a market cap of $330.29 billion, a price-to-earnings ratio of 608.52, a PEG ratio of 11.66 and a beta of 2.64. The stock's fifty day simple moving average is $118.64 and its two-hundred day simple moving average is $96.13.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. The company 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 firm's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 EPS. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.