Palantir Technologies Inc. (NASDAQ:PLTR) Stake Cut by Grange Capital LLC

Grange Capital LLC lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 80.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,090 shares of the company's stock after selling 61,984 shares during the period. Palantir Technologies comprises 1.5% of Grange Capital LLC's investment portfolio, making the stock its 23rd largest holding. Grange Capital LLC's holdings in Palantir Technologies were worth $1,274,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after acquiring an additional 6,479 shares during the last quarter. Pitcairn Co. bought a new stake in shares of Palantir Technologies during the 4th quarter worth about $281,000. Sagespring Wealth Partners LLC raised its stake in shares of Palantir Technologies by 36.3% in the 1st 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Palantir Technologies in the 4th quarter worth approximately $52,033,000. Finally, CX Institutional bought a new stake in Palantir Technologies during the first quarter worth approximately $62,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 0.9%

Palantir Technologies stock traded up $1.35 during midday trading on Wednesday, hitting $149.93. 39,893,604 shares of the stock were exchanged, compared to its average volume of 83,192,158. The stock has a market capitalization of $353.81 billion, a price-to-earnings ratio of 651.36, a PEG ratio of 12.73 and a beta of 2.59. The stock's 50-day simple moving average is $132.11 and its 200 day simple moving average is $104.76. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $150.62.

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

Analysts Set New Price Targets

A number of brokerages recently commented on PLTR. Citigroup upped their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Morgan Stanley raised their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald increased their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price for the company. Finally, UBS Group reissued a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $91.37.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the sale, the insider owned 367,691 shares of the company's stock, valued at approximately $46,472,465.49. The trade was a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $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 sold a total of 1,452,297 shares of company stock worth $186,222,373 in the last three months. Company insiders own 12.93% of the company's stock.

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.