Stephens Investment Management Group LLC Has $24.12 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Stephens Investment Management Group LLC lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 49.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,830 shares of the company's stock after selling 274,191 shares during the period. Stephens Investment Management Group LLC's holdings in Palantir Technologies were worth $24,124,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its position in Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after purchasing an additional 185 shares in the last quarter. Richardson Capital Management LLC acquired a new position in Palantir Technologies in the first quarter worth about $33,000. Atlantic Edge Private Wealth Management LLC grew its stake in Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after buying an additional 125 shares during the last quarter. Godsey & Gibb Inc. grew its stake in Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after buying an additional 370 shares during the last quarter. Finally, Arlington Trust Co LLC grew its stake in Palantir Technologies by 542.9% during the first quarter. Arlington Trust Co LLC now owns 450 shares of the company's stock worth $38,000 after buying an additional 380 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $142.10 on Monday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $148.22. The stock has a market cap of $335.34 billion, a PE ratio of 617.83, a PEG ratio of 12.13 and a beta of 2.59. The firm's 50 day moving average price is $130.81 and its two-hundred day moving average price is $103.96.

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 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period last year, the firm earned $0.08 earnings per share. The business's revenue for the quarter was up 39.4% on a year-over-year basis. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on PLTR shares. Cantor Fitzgerald upped 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 note on Tuesday, May 6th. Wedbush reaffirmed an "outperform" rating on shares of Palantir Technologies in a research note on Thursday. Loop Capital set a $155.00 price objective on shares of Palantir Technologies and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $89.32.

Insider Buying and Selling

In other Palantir Technologies news, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director directly owned 2,348 shares in the company, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the completion of the sale, the insider owned 363,755 shares in the company, valued at approximately $49,219,689.05. This trade represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,452,297 shares of company stock valued at $186,222,373. 12.93% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.