Total Investment Management Inc. Takes $219,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Total Investment Management Inc. purchased a new stake in Palantir Technologies Inc., buying 2,590 shares valued at approximately $219,000 in the first quarter.
• Palantir's stock has seen significant activity, with several institutional investors increasing their positions, including Invesco Ltd., which boosted its holdings by 31.2% in the last quarter.
• Recently, insider Alexander C. Karp sold 358,982 shares for approximately $45.37 million, representing a 5.29% decrease in his ownership of the company.

Total Investment Management Inc. bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,590 shares of the company's stock, valued at approximately $219,000.

Several other large investors also recently modified their holdings of the business. Revolve Wealth Partners LLC bought a new position in Palantir Technologies during the 4th quarter worth about $450,000. Pitcairn Co. bought a new position in shares of Palantir Technologies during the fourth quarter worth about $281,000. Prudential PLC grew its holdings in shares of Palantir Technologies by 18.6% during the fourth quarter. Prudential PLC now owns 33,917 shares of the company's stock worth $2,565,000 after buying an additional 5,316 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Palantir Technologies by 30.3% in the 4th 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. Finally, Russell Investments Group Ltd. lifted its stake in Palantir Technologies by 20.7% in the 4th quarter. Russell Investments Group Ltd. now owns 706,487 shares of the company's stock valued at $53,494,000 after acquiring an additional 121,312 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PLTR shares. Citigroup raised their price target on shares of Palantir Technologies from $158.00 to $177.00 and gave the stock a "neutral" rating in a research note on Tuesday. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the stock from $80.00 to $160.00 in a research report on Tuesday. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday. Finally, Loop Capital raised their price target on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $125.35.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $6.27 during mid-day trading on Wednesday, reaching $179.54. 82,519,259 shares of the company's stock were exchanged, compared to its average volume of 59,825,928. Palantir Technologies Inc. has a one year low of $26.24 and a one year high of $180.58. The business's fifty day simple moving average is $142.12 and its two-hundred day simple moving average is $113.60. The firm has a market capitalization of $423.70 billion, a PE ratio of 598.49, a price-to-earnings-growth ratio of 14.08 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same period last year, the firm earned $0.09 earnings per share. The business's revenue for the quarter was up 48.0% on a year-over-year basis. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction on 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 owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. This trade represents 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 this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the sale, the insider directly owned 592 shares of the company's stock, valued at $74,822.88. This represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,485,632 shares of company stock worth $191,222,623. 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.