Sachetta LLC Acquires 2,168 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Sachetta LLC boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 190.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,308 shares of the company's stock after acquiring an additional 2,168 shares during the quarter. Sachetta LLC's holdings in Palantir Technologies were worth $279,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PLTR. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth $450,000. Proficio Capital Partners LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth $522,000. Natixis Advisors LLC grew its holdings in shares of Palantir Technologies by 266.6% during the fourth quarter. Natixis Advisors LLC now owns 200,683 shares of the company's stock worth $15,178,000 after purchasing an additional 145,941 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Palantir Technologies by 17.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 26,829 shares of the company's stock worth $2,029,000 after purchasing an additional 3,973 shares during the last quarter. Finally, PDS Planning Inc bought a new stake in shares of Palantir Technologies during the fourth quarter worth $463,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PLTR. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and raised their price target for the company from $116.00 to $135.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Daiwa Capital Markets initiated coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $91.37.

Palantir Technologies Trading Down 0.3%

Shares of NASDAQ PLTR traded down $0.47 during mid-day trading on Friday, reaching $153.52. 45,673,387 shares of the company's stock were exchanged, compared to its average volume of 83,262,983. The firm has a market capitalization of $362.29 billion, a price-to-earnings ratio of 667.48, a PEG ratio of 12.88 and a beta of 2.59. The business has a fifty day simple moving average of $133.61 and a 200 day simple moving average of $105.61. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $155.68.

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

Insiders Place Their Bets

In related news, Director Eric H. Woersching sold 10,214 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director owned 2,348 shares of the company's stock, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares in the company, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock worth $191,222,623 in the last 90 days. Company insiders own 9.23% of the company's stock.

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.