Spring Capital Management LLC Invests $211,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Spring Capital Management LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,500 shares of the company's stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Roxbury Financial LLC acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $27,000. HighMark Wealth Management LLC grew its position in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth about $31,000. R Squared Ltd acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $33,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $34,000. Institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Mizuho boosted their target price on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $83.95.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the 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 owns 592 shares of the company's stock, valued at $48,988. This represents a 99.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,894,925 shares of company stock worth $369,820,528. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Down 7.8%

Palantir Technologies stock traded down $10.10 during mid-day trading on Thursday, hitting $119.91. 129,811,838 shares of the company were exchanged, compared to its average volume of 79,615,657. The company has a market capitalization of $282.98 billion, a PE ratio of 631.14, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. The business has a fifty day moving average of $108.44 and a 200 day moving average of $91.31. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $135.28.

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, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter last year, the company posted $0.08 EPS. Research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.