Prakash Investment Advisors LLC Purchases 8,100 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Prakash Investment Advisors LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 283.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,955 shares of the company's stock after purchasing an additional 8,100 shares during the period. Palantir Technologies accounts for about 1.0% of Prakash Investment Advisors LLC's holdings, making the stock its 20th biggest position. Prakash Investment Advisors LLC's holdings in Palantir Technologies were worth $925,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Godsey & Gibb Inc. lifted its position in shares of Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after purchasing an additional 370 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $34,000. Fairfield Financial Advisors LTD bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $35,000. Runnymede Capital Advisors Inc. bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $36,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $38,000. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the business'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 completion of the transaction, the insider now owns 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric H. Woersching sold 17,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the completion of the transaction, the director now directly owns 12,562 shares of the company's stock, valued at approximately $1,624,140.98. This represents a 57.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock valued at $188,456,658 in the last quarter. Corporate insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLTR. Mizuho raised their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $89.32.

Palantir Technologies Stock Down 9.4%

NASDAQ PLTR opened at $130.74 on Friday. The company's 50 day moving average is $125.24 and its 200-day moving average is $99.62. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22. The firm has a market cap of $308.53 billion, a P/E ratio of 568.43, a price-to-earnings-growth ratio of 11.16 and a beta of 2.64.

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

About Palantir Technologies

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.

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