Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its holdings in Palantir Technologies Inc. by 60.5%, acquiring an additional 29,745 shares during the first quarter, bringing its total ownership to 78,902 shares valued at approximately $6.66 million.
• Insider Stephen Andrew Cohen sold 309,696 shares of Palantir stock valued at over $39 million, representing a 99.81% decrease in his ownership position.
• Palantir Technologies recently reported earnings beating expectations with a 48.0% increase in revenue year-over-year, amounting to $1 billion for the quarter.

Townsquare Capital LLC boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 60.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,902 shares of the company's stock after buying an additional 29,745 shares during the quarter. Townsquare Capital LLC's holdings in Palantir Technologies were worth $6,659,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mechanics Financial Corp purchased a new stake in Palantir Technologies during the 1st quarter worth about $25,000. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at approximately $33,000. Cornerstone Planning Group LLC raised its position in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after buying an additional 185 shares during the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Palantir Technologies by 45.5% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after buying an additional 125 shares during the period. Finally, Godsey & Gibb Inc. boosted its position in Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after acquiring an additional 370 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 30,000 shares of Palantir Technologies stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the transaction, the insider directly owned 363,755 shares of the company's stock, valued at approximately $63,657,125. The trade was a 7.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider owned 492,079 shares in the company, valued at approximately $61,987,191.63. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock valued at $196,472,623 in the last ninety days. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Up 2.6%

Shares of PLTR traded up $4.76 during trading on Friday, reaching $186.96. The company's stock had a trading volume of 62,386,781 shares, compared to its average volume of 61,745,848. The company has a market cap of $441.21 billion, a price-to-earnings ratio of 623.22, a P/E/G ratio of 10.54 and a beta of 2.60. The company has a fifty day moving average of $145.64 and a two-hundred day moving average of $116.13. Palantir Technologies Inc. has a twelve month low of $29.10 and a twelve month high of $187.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The business 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 for the quarter was up 48.0% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the subject of several analyst reports. Piper Sandler set a $182.00 price target on Palantir Technologies in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price objective for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and upped 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 lifted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and an average target price of $136.61.

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.