Spring Capital Management LLC Takes $211,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Spring Capital Management LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 1st quarter, Holdings Channel reports. The fund bought 2,500 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $27,000. HighMark Wealth Management LLC lifted its stake in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares in the last quarter. Sierra Ocean LLC bought a new position in Palantir Technologies in the 4th quarter worth $31,000. R Squared Ltd bought a new position in Palantir Technologies in the 4th quarter worth $33,000. Finally, First Command Advisory Services Inc. purchased a new stake in Palantir Technologies in the 4th quarter worth $34,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 39,825 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $810,271,540.26. This trade represents a 0.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,901,701 shares of company stock worth $370,407,533. 9.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PLTR shares. Royal Bank of Canada restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. UBS Group upped their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Bank of America increased their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Daiwa America raised shares of Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Finally, Robert W. Baird raised their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $83.95.

Palantir Technologies Stock Up 0.2%

Palantir Technologies stock opened at $132.04 on Tuesday. The company’s 50-day moving average price is $106.69 and its 200-day moving average price is $90.74. The company has a market cap of $311.60 billion, a PE ratio of 694.98, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a twelve month low of $21.01 and a twelve month high of $134.48.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the business posted $0.08 earnings per share. The firm’s revenue was up 39.4% on a year-over-year basis. As a group, sell-side analysts expect 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.