Palantir Technologies Inc. (NASDAQ:PLTR) Shares Purchased by Thoroughbred Financial Services LLC

Key Points

• Thoroughbred Financial Services LLC increased its stake in Palantir Technologies by 81.3%, owning 16,484 shares valued at approximately $1.39 million after acquiring an additional 7,394 shares in the first quarter.
• Palantir Technologies reported $1 billion in revenue for the recent quarter, exceeding analyst expectations, and delivered $0.16 earnings per share (EPS), beating the estimated $0.14 EPS.
• Wall Street analysts are optimistic about Palantir, with multiple firms raising their price targets significantly, indicating a consensus rating of "Hold" and an average target price of $122.20.

Thoroughbred Financial Services LLC raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 81.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,484 shares of the company's stock after acquiring an additional 7,394 shares during the period. Thoroughbred Financial Services LLC's holdings in Palantir Technologies were worth $1,391,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Revolve Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at $450,000. Envestnet Asset Management Inc. lifted its position in shares of Palantir Technologies by 30.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 592,412 shares of the company's stock valued at $44,804,000 after buying an additional 137,604 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Palantir Technologies by 158.0% in the 4th quarter. Quadrant Capital Group LLC now owns 5,265 shares of the company's stock worth $398,000 after buying an additional 3,224 shares during the last quarter. Cerity Partners LLC grew its holdings in Palantir Technologies by 15.3% in the fourth quarter. Cerity Partners LLC now owns 630,088 shares of the company's stock worth $47,654,000 after purchasing an additional 83,757 shares during the last quarter. Finally, Shelton Capital Management lifted its holdings in shares of Palantir Technologies by 285.8% during the 4th quarter. Shelton Capital Management now owns 318,752 shares of the company's stock valued at $24,107,000 after purchasing an additional 236,128 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider David A. Glazer sold 3,418 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares in the company, valued at $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,515,632 shares of company stock worth $196,472,623 in the last 90 days. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

PLTR stock traded up $2.66 during trading on Thursday, hitting $182.20. The stock had a trading volume of 77,586,531 shares, compared to its average volume of 60,547,432. Palantir Technologies Inc. has a twelve month low of $26.69 and a twelve month high of $184.48. The company's 50-day moving average price is $144.43 and its two-hundred day moving average price is $114.82. The stock has a market capitalization of $429.98 billion, a P/E ratio of 607.35, a PEG ratio of 13.07 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data 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. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the firm posted $0.09 EPS. The firm's revenue for the quarter was up 48.0% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PLTR. The Goldman Sachs Group upped their target price on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday. Bank of America boosted their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their price target for the stock from $80.00 to $160.00 in a report on Tuesday. Cantor Fitzgerald upped their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Royal Bank Of Canada boosted their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $136.61.

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.