TCW Group Inc. Buys 4,068 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• TCW Group Inc. has increased its stake in Palantir Technologies by 14.5%, now owning 32,031 shares valued at approximately $2.7 million as of their latest SEC filing.
• The stock has seen a recent analyst ratings shift, with Piper Sandler starting coverage at an "overweight" rating and a price target of $170, while the consensus target price currently stands at $95.30.
• Palantir Technologies reported a 39.4% increase in revenue year-over-year for the last quarter, with earnings meeting consensus estimates at $0.13 EPS.

TCW Group Inc. increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 32,031 shares of the company's stock after buying an additional 4,068 shares during the period. TCW Group Inc.'s holdings in Palantir Technologies were worth $2,703,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PLTR. Sterling Investment Advisors Ltd. lifted its position in Palantir Technologies by 222.0% during the first quarter. Sterling Investment Advisors Ltd. now owns 19,389 shares of the company's stock worth $1,636,000 after acquiring an additional 13,367 shares during the last quarter. Dudley Capital Management LLC increased its stake in shares of Palantir Technologies by 185.9% during the first quarter. Dudley Capital Management LLC now owns 4,275 shares of the company's stock worth $361,000 after purchasing an additional 9,250 shares during the period. Resolute Wealth Strategies LLC acquired a new stake in Palantir Technologies during the 1st quarter worth approximately $395,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Palantir Technologies by 57.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 720,140 shares of the company's stock valued at $60,780,000 after purchasing an additional 262,866 shares during the period. Finally, FourThought Financial Partners LLC grew its holdings in Palantir Technologies by 6.7% in the 1st quarter. FourThought Financial Partners LLC now owns 6,869 shares of the company's stock valued at $580,000 after buying an additional 430 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. Piper Sandler started coverage on Palantir Technologies in a report on Friday. They set an "overweight" rating and a $170.00 target price for the company. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a report on Thursday, July 10th. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Finally, Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $95.30.

Palantir Technologies Stock Up 2.5%

Shares of PLTR stock opened at $158.80 on Monday. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $160.39. The stock's fifty day simple moving average is $137.03 and its 200 day simple moving average is $109.42. The firm has a market capitalization of $374.75 billion, a P/E ratio of 690.43, a P/E/G ratio of 13.54 and a beta of 2.59.

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

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 358,982 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,485,632 shares of company stock worth $191,222,623. 12.93% of the stock is currently owned by insiders.

About Palantir Technologies

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.

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