Range Financial Group LLC Acquires 19,944 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Range Financial Group LLC raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 286.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,903 shares of the company's stock after buying an additional 19,944 shares during the period. Palantir Technologies comprises approximately 1.0% of Range Financial Group LLC's investment portfolio, making the stock its 26th biggest holding. Range Financial Group LLC's holdings in Palantir Technologies were worth $2,271,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PLTR. Norges Bank bought a new position in shares of Palantir Technologies during the fourth quarter worth approximately $1,360,191,000. Geode Capital Management LLC increased its stake in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP increased its stake in shares of Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after purchasing an additional 3,907,022 shares during the period. Invesco Ltd. increased its stake in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Finally, Capital World Investors bought a new position in shares of Palantir Technologies during the fourth quarter worth approximately $253,816,000. Institutional investors own 45.65% of the company's stock.

Insider Activity

In related news, insider Alexander C. Karp sold 39,825 shares of the firm's stock in a transaction 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 now directly owns 6,432,258 shares of the company's stock, valued at $810,271,540.26. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $48,988. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,894,925 shares of company stock worth $369,820,528. Insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $127.72 on Monday. The stock's fifty day moving average price is $110.01 and its two-hundred day moving average price is $92.58. The company has a market cap of $301.41 billion, a PE ratio of 672.25, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued 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. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company's revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. DA Davidson increased their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report 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 assigned a buy rating to the company's stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies 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.

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