Sigma Planning Corp Boosts Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Sigma Planning Corp lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 20.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,109 shares of the company's stock after acquiring an additional 17,450 shares during the period. Sigma Planning Corp's holdings in Palantir Technologies were worth $8,702,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Palantir Technologies by 8.6% in the fourth 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. Northern Trust Corp increased its holdings in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies during the 4th quarter worth $1,360,191,000. FMR LLC lifted its holdings in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. grew its position in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

PLTR stock traded up $7.05 on Monday, reaching $149.15. The company's stock had a trading volume of 81,498,736 shares, compared to its average volume of 96,976,188. The firm has a market cap of $351.98 billion, a PE ratio of 648.48, a PEG ratio of 12.13 and a beta of 2.59. The business has a fifty day simple moving average of $130.81 and a two-hundred day simple moving average of $103.96. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $149.58.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the firm 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, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the topic of a number of research reports. Cantor Fitzgerald raised their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Citigroup boosted their target price 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 Capital Markets started coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target on the stock. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a report on Thursday. Finally, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average price target of $90.37.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider owned 702,786 shares in the company, valued at approximately $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 can be accessed through this link. Also, insider Ryan D. Taylor sold 35,480 shares of the firm's 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 $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares of the company's stock, valued at $46,472,465.49. This represents a 8.80% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,452,297 shares of company stock worth $186,222,373. 12.93% of the stock is owned by insiders.

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.