Palantir Technologies Inc. $PLTR Shares Sold by MASTERINVEST Kapitalanlage GmbH

Key Points

• MASTERINVEST Kapitalanlage GmbH cut its Palantir position by 21.5% in the first quarter, selling 4,000 shares and leaving it with 14,620 shares worth about $2.14 million.
• Several analysts remain bullish on Palantir, with recent upgrades and price targets pushing the consensus rating to Moderate Buy and the average target price to $190.85.
• Palantir’s latest earnings showed strong momentum, with EPS of $0.33 and revenue of $1.63 billion, both beating expectations and reflecting 84.7% year-over-year revenue growth.

MASTERINVEST Kapitalanlage GmbH lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 21.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,620 shares of the company's stock after selling 4,000 shares during the quarter. MASTERINVEST Kapitalanlage GmbH's holdings in Palantir Technologies were worth $2,139,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $29,000. Morton Brown Family Wealth LLC increased its holdings in shares of Palantir Technologies by 250.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after acquiring an additional 125 shares during the period. Cornerstone Financial Management LLC purchased a new stake in Palantir Technologies in the 4th quarter valued at $31,000. Clayton Financial Group LLC raised its position in Palantir Technologies by 500.0% in the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Palantir Technologies in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on PLTR shares. Oppenheimer started coverage on shares of Palantir Technologies in a research report on Thursday, April 30th. They set an "outperform" rating and a $200.00 price objective on the stock. Wedbush started coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an "outperform" rating for the company. Phillip Securities increased their target price on shares of Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. President Capital raised Palantir Technologies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $25.50 to $133.00 in a report on Monday, June 29th. Finally, Argus upgraded Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price target on the stock in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $190.85.

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: The U.S. Small Business Administration said it is expanding use of Palantir software to strengthen pandemic-fraud detection and enforcement, another example of the company winning mission-critical government work. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Coverage around Palantir’s AI platform and “ontology” technology highlighted continued enterprise adoption, supporting the case that its software is becoming more deeply embedded in customer workflows. Palantir's Ontology Edge Is Redefining AI Software Leadership
• Positive Sentiment: Palantir also drew bullish commentary from investors and analysts who see it as a high-upside growth stock, and a report noted the shares recovered after an early dip, suggesting buyers are still stepping in on weakness. ‘One to Admire,’ Says Top Investor About Palantir Stock

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 397,744 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.00, for a total transaction of $255,680.00. Following the completion of the sale, the director owned 55,022 shares of the company's stock, valued at approximately $8,803,520. The trade was a 2.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,112,270 shares of company stock valued at $150,247,785. Corporate insiders own 9.53% of the company's stock.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $133.72 on Wednesday. The firm's fifty day moving average price is $132.36 and its 200 day moving average price is $145.19. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52. The firm has a market cap of $320.57 billion, a price-to-earnings ratio of 150.25, a price-to-earnings-growth ratio of 2.08 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. Palantir Technologies's revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. As a group, analysts expect that Palantir Technologies Inc. will post 1.17 earnings per share for the current fiscal year.

Palantir Technologies Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

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