Shikiar Asset Management Inc. Acquires 4,436 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Shikiar Asset Management Inc. boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 31.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,436 shares of the company's stock after purchasing an additional 4,436 shares during the period. Shikiar Asset Management Inc.'s holdings in Palantir Technologies were worth $1,556,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings 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 valued at $4,191,000 after purchasing an additional 6,479 shares in the last quarter. Pitcairn Co. acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at $281,000. L.M. Kohn & Company bought a new position in shares of Palantir Technologies in the fourth quarter worth about $550,000. KLP Kapitalforvaltning AS acquired a new position in shares of Palantir Technologies during the fourth quarter worth approximately $52,033,000. Finally, Sigma Planning Corp grew its stake in shares of Palantir Technologies by 27.1% during the fourth quarter. Sigma Planning Corp now owns 85,659 shares of the company's stock valued at $6,478,000 after purchasing an additional 18,286 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. UBS Group boosted their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Finally, Mizuho lifted their price objective on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $86.30.

Palantir Technologies Trading Up 2.9%

Palantir Technologies stock traded up $4.01 during trading hours on Monday, reaching $141.41. 80,082,439 shares of the stock were exchanged, compared to its average volume of 81,014,821. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $144.74. The company has a market cap of $333.72 billion, a P/E ratio of 744.30, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. The stock has a 50 day moving average of $115.48 and a two-hundred day moving average of $95.01.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm 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 company earned $0.08 earnings per share. The company's quarterly revenue was up 39.4% on a year-over-year basis. On average, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider now owns 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,506,925 shares of company stock worth $188,456,658. Corporate insiders own 9.23% of the company's stock.

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.