Verity Asset Management Inc. Buys Shares of 3,249 Palantir Technologies Inc. (NASDAQ:PLTR)

Verity Asset Management Inc. acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,249 shares of the company's stock, valued at approximately $274,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after buying an additional 4,127,306 shares during the period. Northern Trust Corp lifted its stake in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after buying an additional 3,299,779 shares during the period. Norges Bank acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $1,360,191,000. FMR LLC lifted its stake in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after buying an additional 2,818,090 shares during the period. Finally, Invesco Ltd. lifted its stake in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded down $5.64 during mid-day trading on Tuesday, hitting $130.68. 91,113,953 shares of the stock were exchanged, compared to its average volume of 82,503,906. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $148.22. The company has a 50-day simple moving average of $126.15 and a 200 day simple moving average of $100.23. The company has a market capitalization of $308.39 billion, a P/E ratio of 568.17, a P/E/G ratio of 11.16 and a beta of 2.64.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PLTR shares. Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Citigroup upped their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Cantor Fitzgerald upped their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Loop Capital set a $155.00 target price on Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average target price of $89.32.

Insider Activity

In related news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider directly owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the transaction, the insider owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,408,748 shares of company stock worth $180,327,603. 12.93% of the stock is owned by insiders.

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.