Pallas Capital Advisors LLC Has $1.38 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Pallas Capital Advisors LLC lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 103.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,326 shares of the company's stock after acquiring an additional 8,286 shares during the quarter. Pallas Capital Advisors LLC's holdings in Palantir Technologies were worth $1,378,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in Palantir Technologies by 65.8% during the 1st quarter. Farther Finance Advisors LLC now owns 37,917 shares of the company's stock valued at $3,211,000 after acquiring an additional 15,054 shares in the last quarter. Daymark Wealth Partners LLC grew its position in Palantir Technologies by 10.3% during the first quarter. Daymark Wealth Partners LLC now owns 10,678 shares of the company's stock valued at $901,000 after purchasing an additional 998 shares in the last quarter. Destiny Wealth Partners LLC grew its position in Palantir Technologies by 11.5% during the first quarter. Destiny Wealth Partners LLC now owns 47,665 shares of the company's stock valued at $4,023,000 after purchasing an additional 4,915 shares in the last quarter. Range Financial Group LLC increased its stake in Palantir Technologies by 286.6% in the 1st quarter. Range Financial Group LLC now owns 26,903 shares of the company's stock valued at $2,271,000 after buying an additional 19,944 shares during the period. Finally, Moss Adams Wealth Advisors LLC lifted its position in Palantir Technologies by 19.3% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 6,491 shares of the company's stock worth $548,000 after buying an additional 1,049 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Up 1.6%

NASDAQ:PLTR traded up $2.21 during mid-day trading on Friday, hitting $137.40. 93,318,005 shares of the company's stock traded hands, compared to its average volume of 81,017,198. The firm has a market capitalization of $324.25 billion, a price-to-earnings ratio of 723.20, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. The firm has a 50 day moving average of $115.48 and a two-hundred day moving average of $94.61. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $140.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same period in the prior year, the business earned $0.08 earnings per share. Palantir Technologies's revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the sale, the insider now owns 592 shares of the company's stock, valued at approximately $51,545.44. This trade represents a 99.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares of the company's stock, valued at $33,382,558.80. The trade was a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,816,925 shares of company stock worth $215,448,358 in the last ninety days. Insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Loop Capital lifted their price objective on Palantir Technologies from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday. Royal Bank of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Morgan Stanley boosted their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $86.30.

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.