Palantir Technologies Inc. $PLTR Shares Acquired by Hsbc Holdings PLC

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Hsbc Holdings PLC raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,232,254 shares of the company's stock after purchasing an additional 202,511 shares during the period. Hsbc Holdings PLC owned 0.18% of Palantir Technologies worth $356,194,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $450,000. XTX Topco Ltd purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $328,000. Capital World Investors purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $253,816,000. Capital Research Global Investors purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $118,679,000. Finally, Capital International Inc. CA purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $4,490,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 1.8%

PLTR opened at $174.03 on Tuesday. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00. The company has a 50-day moving average price of $151.87 and a 200 day moving average price of $120.39. The company has a market cap of $412.86 billion, a PE ratio of 580.12, a price-to-earnings-growth ratio of 9.99 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company's revenue for the quarter was up 48.0% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 39,825 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $810,271,540.26. This trade represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 628,140 shares of company stock worth $84,302,509 in the last 90 days. Corporate insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of a number of research analyst reports. Loop Capital boosted their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a report on Tuesday, August 5th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada boosted their price objective on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $136.61.

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.