Saiph Capital LLC Invests $476,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Saiph Capital LLC made a new investment of approximately $476,000 in Palantir Technologies Inc., acquiring 5,645 shares during the first quarter.
• Palantir reported a strong quarterly performance, with earnings per share of $0.16, exceeding analyst expectations, and revenue of $1 billion, up 48.0% year-over-year.
• Insiders sold a total of 1,515,632 shares of Palantir stock in the last 90 days, indicating significant trading activity among executives of the company.

Saiph Capital LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,645 shares of the company's stock, valued at approximately $476,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its position in Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares in the last quarter. Garrison Bradford & Associates Inc. purchased a new position in Palantir Technologies during the 1st quarter worth approximately $45,000. Menard Financial Group LLC grew its position in Palantir Technologies by 8.2% during the 1st quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock worth $2,189,000 after purchasing an additional 1,964 shares in the last quarter. TCW Group Inc. grew its position in Palantir Technologies by 14.5% during the 1st quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after purchasing an additional 4,068 shares in the last quarter. Finally, Sagespring Wealth Partners LLC grew its position in Palantir Technologies by 36.3% during the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after purchasing an additional 6,405 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Loop Capital lifted their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada lifted their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Price Performance

Shares of PLTR stock traded down $3.37 on Thursday, hitting $181.00. The company's stock had a trading volume of 53,253,805 shares, compared to its average volume of 91,397,313. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00. The firm's fifty day moving average price is $148.82 and its 200-day moving average price is $117.81. The stock has a market capitalization of $427.14 billion, a price-to-earnings ratio of 603.35, a P/E/G ratio of 10.54 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the previous year, the business earned $0.09 EPS. Palantir Technologies's quarterly revenue was up 48.0% compared to the same quarter last year. Analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the transaction, the insider owned 495,497 shares of the company's stock, valued at $62,625,865.83. The trade was a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,515,632 shares of company stock worth $196,472,623. Insiders own 9.23% of the company's stock.

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.