Steigerwald Gordon & Koch Inc. Sells 7,500 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Steigerwald Gordon & Koch Inc. cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 29.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,100 shares of the company's stock after selling 7,500 shares during the quarter. Steigerwald Gordon & Koch Inc.'s holdings in Palantir Technologies were worth $1,528,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. Norges Bank acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after buying an additional 3,907,022 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors acquired a new stake in shares of Palantir Technologies in the fourth quarter worth $253,816,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PLTR shares. Loop Capital boosted their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Royal Bank of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. DA Davidson boosted their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley boosted 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 analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Stock Performance

Shares of PLTR stock traded down $10.10 during mid-day trading on Thursday, reaching $119.91. The company's stock had a trading volume of 130,949,256 shares, compared to its average volume of 79,782,790. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $135.28. The company has a market cap of $282.98 billion, a P/E ratio of 631.14, a PEG ratio of 10.84 and a beta of 2.64. The firm's 50-day moving average is $108.44 and its two-hundred day moving average is $91.31.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter in the prior year, the company posted $0.08 EPS. The business's revenue was up 39.4% on a year-over-year basis. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $50,497.60. This trade represents a 99.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now owns 61,339 shares of the company's stock, valued at $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 90 days, insiders sold 3,894,925 shares of company stock worth $369,820,528. 9.23% of the stock is currently owned by corporate insiders.

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.