Tsfg LLC Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Tsfg LLC increased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 96.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,437 shares of the company's stock after acquiring an additional 2,674 shares during the quarter. Tsfg LLC's holdings in Palantir Technologies were worth $459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new position in Palantir Technologies in the 4th quarter worth approximately $450,000. Advisor OS LLC bought a new position in Palantir Technologies in the 4th quarter worth approximately $427,000. Checchi Capital Advisers LLC bought a new position in Palantir Technologies in the 4th quarter worth approximately $258,000. NewEdge Wealth LLC boosted its stake in Palantir Technologies by 34.8% in the 4th quarter. NewEdge Wealth LLC now owns 19,969 shares of the company's stock worth $1,510,000 after purchasing an additional 5,152 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Palantir Technologies in the 4th quarter worth approximately $39,507,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock traded down $13.51 during trading on Friday, hitting $130.74. The stock had a trading volume of 200,764,922 shares, compared to its average volume of 82,409,392. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $148.22. The firm's fifty day simple moving average is $125.24 and its 200-day simple moving average is $99.62. The stock has a market cap of $308.53 billion, a PE ratio of 568.43, a PEG ratio of 11.16 and a beta of 2.64.

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

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the 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 sale, the insider now owns 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $74,822.88. The trade was a 99.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,506,925 shares of company stock valued at $188,456,658. Insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

PLTR has been the subject of several recent analyst reports. Mizuho upped their price target on Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research note on Wednesday, June 11th. Wedbush set a $140.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. UBS Group restated a "positive" rating on shares of Palantir Technologies in a research note on Wednesday. Cantor Fitzgerald increased their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies 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.