Steele Capital Management Inc. Raises Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Steele Capital Management Inc. increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,876 shares of the company's stock after purchasing an additional 5,427 shares during the period. Steele Capital Management Inc.'s holdings in Palantir Technologies were worth $1,593,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp grew its position in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after buying an additional 3,299,779 shares during the period. Norges Bank purchased a new position in Palantir Technologies in the fourth quarter valued at about $1,360,191,000. FMR LLC increased its holdings in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after buying an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity

In other Palantir Technologies 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 value of $53,492,400.00. Following the transaction, the insider now owns 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan D. Taylor sold 98,177 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares of the company's stock, valued at $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,506,925 shares of company stock valued at $188,456,658 in the last 90 days. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PLTR. Cantor Fitzgerald raised their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. DA Davidson raised their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Citigroup boosted their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley lifted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $86.30.

Palantir Technologies Trading Down 2.3%

Shares of Palantir Technologies stock traded down $3.21 during trading hours on Tuesday, reaching $138.20. 70,170,459 shares of the company's stock were exchanged, compared to its average volume of 81,081,759. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $144.86. The company has a fifty day moving average of $117.68 and a 200-day moving average of $95.83. The firm has a market capitalization of $326.14 billion, a price-to-earnings ratio of 600.87, a price-to-earnings-growth ratio of 11.93 and a beta of 2.64.

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