Stevens Capital Management LP Has $7.40 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Stevens Capital Management LP increased its stake in Palantir Technologies by 2,453.1%, now owning 87,700 shares valued at approximately $7.4 million, which makes Palantir its 11th largest holding.
• In the last 90 days, insiders have sold over 1.4 million shares of Palantir, representing a significant decrease in their ownership stake.
• Palantir's stock has a consensus rating of "Hold" from analysts, with a target price estimate averaging around $91.37.

Stevens Capital Management LP lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2,453.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,700 shares of the company's stock after acquiring an additional 84,265 shares during the period. Palantir Technologies accounts for approximately 1.8% of Stevens Capital Management LP's holdings, making the stock its 11th biggest holding. Stevens Capital Management LP's holdings in Palantir Technologies were worth $7,402,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Palantir Technologies during the first quarter valued at approximately $3,959,000. Drive Wealth Management LLC boosted its stake in Palantir Technologies by 57.8% in the first quarter. Drive Wealth Management LLC now owns 5,470 shares of the company's stock valued at $462,000 after acquiring an additional 2,004 shares in the last quarter. Trilogy Capital Inc. boosted its stake in Palantir Technologies by 39.0% in the first quarter. Trilogy Capital Inc. now owns 6,064 shares of the company's stock valued at $512,000 after acquiring an additional 1,701 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Palantir Technologies by 40.8% during the first quarter. Pacer Advisors Inc. now owns 839,919 shares of the company's stock worth $70,889,000 after buying an additional 243,490 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Palantir Technologies by 775.0% during the first quarter. Assetmark Inc. now owns 10,421 shares of the company's stock worth $880,000 after buying an additional 9,230 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 1.2%

Shares of PLTR traded down $1.95 during mid-day trading on Monday, reaching $156.85. 41,691,741 shares of the stock traded hands, compared to its average volume of 93,605,172. The firm has a market cap of $370.14 billion, a price-to-earnings ratio of 681.50, a P/E/G ratio of 13.54 and a beta of 2.59. The stock has a fifty day simple moving average of $137.03 and a 200 day simple moving average of $109.42. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.39.

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, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 earnings per share. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Eric H. Woersching sold 10,214 shares of the company's stock in a transaction dated 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 completion of the sale, the director directly owned 2,348 shares of the company's stock, valued at approximately $307,470.60. This represents a 81.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 33,335 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total transaction of $5,000,250.00. Following the sale, the insider directly owned 363,755 shares of the company's stock, valued at $54,563,250. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. Corporate insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent analyst reports. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a report on Thursday, July 10th. 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 note on Tuesday, May 6th. Morgan Stanley boosted their price target 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. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $95.30.

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.