Veracity Capital LLC Takes $480,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Veracity Capital LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,687 shares of the company's stock, valued at approximately $480,000.

Several other hedge funds also recently added to or reduced their stakes in PLTR. Financial Management Professionals Inc. boosted its position in shares of Palantir Technologies by 71.6% during the first quarter. Financial Management Professionals Inc. now owns 932 shares of the company's stock worth $79,000 after buying an additional 389 shares during the period. Teamwork Financial Advisors LLC grew its holdings in Palantir Technologies by 810.2% during the first quarter. Teamwork Financial Advisors LLC now owns 30,356 shares of the company's stock worth $2,562,000 after acquiring an additional 27,021 shares during the period. Benin Management CORP raised its stake in shares of Palantir Technologies by 10.0% during the 1st quarter. Benin Management CORP now owns 4,400 shares of the company's stock worth $371,000 after buying an additional 400 shares during the last quarter. Cathy Pareto & Associates Inc. purchased a new stake in Palantir Technologies during the 1st quarter worth about $220,000. Finally, Watershed Private Wealth LLC acquired a new stake in Palantir Technologies in the 1st quarter worth about $375,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares of the company's stock, valued at $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Friday, March 14th. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $50,497.60. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,894,925 shares of company stock valued at $369,820,528 in the last 90 days. Corporate insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on PLTR shares. Mizuho increased their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research report on Tuesday, May 6th. Citigroup raised their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. UBS Group increased their price target on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Trading Down 7.8%

Shares of PLTR stock traded down $10.10 during trading hours on Thursday, reaching $119.91. The stock had a trading volume of 130,949,256 shares, compared to its average volume of 79,623,426. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $135.28. The stock's fifty day simple moving average is $108.44 and its 200 day simple moving average is $91.31. The firm has a market capitalization of $282.98 billion, a PE ratio of 631.14, a PEG ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.