United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• United Super Pty Ltd acquired 3,100 shares of Palantir Technologies, valued at approximately $262,000, during the 1st quarter of the year.
• Palantir Technologies has seen a range of institutional investors increase their stakes, with 45.65% of its stock owned by such investors.
• Analysts have varied ratings on Palantir's stock, with a consensus rating of "Hold" and an average target price of $96.45.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,100 shares of the company's stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PLTR. Allegiance Financial Group Advisory Services LLC increased its stake in Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after buying an additional 84 shares in the last quarter. Sovran Advisors LLC increased its stake in Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after buying an additional 94 shares in the last quarter. Lodestone Wealth Management LLC increased its stake in Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after buying an additional 97 shares in the last quarter. Continuum Advisory LLC increased its stake in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after buying an additional 98 shares in the last quarter. Finally, Kathmere Capital Management LLC increased its stake in Palantir Technologies by 0.5% in the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after buying an additional 99 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Piper Sandler initiated coverage on shares of Palantir Technologies in a report on Friday, July 25th. They set an "overweight" rating and a $170.00 price objective for the company. Loop Capital increased their price objective on shares of Palantir Technologies from $155.00 to $178.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Morgan Stanley increased their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $96.45.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the sale, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 completion of the sale, the insider directly owned 492,079 shares in the company, valued at $61,987,191.63. This trade represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock worth $191,222,623 over the last three months. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $154.27 on Friday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $160.89. The firm has a market capitalization of $364.06 billion, a P/E ratio of 670.74, a price-to-earnings-growth ratio of 13.15 and a beta of 2.60. The company's 50-day moving average is $140.37 and its 200 day moving average is $112.27.

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

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.

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