Strategy Asset Managers LLC Purchases 13,180 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Strategy Asset Managers LLC increased its holdings in Palantir Technologies Inc. by 58.4%, bringing their total to 35,765 shares worth approximately $3 million.
• Several institutional investors like Northern Trust Corp and Goldman Sachs have also boosted their positions in Palantir, indicating strong interest in the company's stock.
• Recent analyst reports have resulted in significant changes to price targets for Palantir, with Morgan Stanley raising theirs from $98 to $155 and UBS Group increasing theirs from $110 to $165.

Strategy Asset Managers LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 58.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,765 shares of the company's stock after acquiring an additional 13,180 shares during the period. Strategy Asset Managers LLC's holdings in Palantir Technologies were worth $3,019,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hemington Wealth Management boosted its position in shares of Palantir Technologies by 19.4% during the 1st quarter. Hemington Wealth Management now owns 1,076 shares of the company's stock valued at $90,000 after acquiring an additional 175 shares in the last quarter. Tidemark LLC lifted its stake in Palantir Technologies by 6.3% during the first quarter. Tidemark LLC now owns 2,697 shares of the company's stock worth $228,000 after purchasing an additional 161 shares during the period. WealthShield Partners LLC boosted its holdings in Palantir Technologies by 25.5% during the first quarter. WealthShield Partners LLC now owns 4,697 shares of the company's stock valued at $396,000 after purchasing an additional 955 shares in the last quarter. Exencial Wealth Advisors LLC grew its stake in shares of Palantir Technologies by 26.5% in the 1st quarter. Exencial Wealth Advisors LLC now owns 21,723 shares of the company's stock valued at $1,833,000 after purchasing an additional 4,548 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 1.5%

Shares of NASDAQ PLTR traded up $2.66 during mid-day trading on Thursday, hitting $182.20. The company had a trading volume of 77,586,531 shares, compared to its average volume of 60,547,432. The company has a market capitalization of $429.98 billion, a PE ratio of 607.35, a price-to-earnings-growth ratio of 13.07 and a beta of 2.60. Palantir Technologies Inc. has a one year low of $26.69 and a one year high of $184.48. The firm has a 50-day simple moving average of $144.43 and a two-hundred day simple moving average of $114.82.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The company's revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of several recent analyst reports. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday. UBS Group restated a "neutral" rating and issued a $165.00 target price (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Finally, Citigroup boosted their price target on shares of Palantir Technologies from $158.00 to $177.00 and gave the company a "neutral" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $136.61.

Insider Activity

In other news, insider Alexander C. Karp sold 358,982 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at $812,973,088.62. The trade was a 5.29% 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 David A. Glazer sold 30,812 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the transaction, the insider directly owned 495,497 shares in the company, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,515,632 shares of company stock valued at $196,472,623. Corporate insiders own 9.23% of the company's stock.

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.