Sonora Investment Management Group LLC Has $682,000 Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Sonora Investment Management Group LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 7.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,086 shares of the company’s stock after acquiring an additional 543 shares during the period. Sonora Investment Management Group LLC’s holdings in Palantir Technologies were worth $682,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in Palantir Technologies in the 4th quarter worth about $1,360,191,000. Geode Capital Management LLC grew its position in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP grew its position in Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. grew its position in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors bought a new stake in Palantir Technologies in the 4th quarter worth about $253,816,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $132.81 on Wednesday. The firm’s fifty day moving average price is $111.88 and its 200-day moving average price is $93.33. The stock has a market cap of $313.42 billion, a P/E ratio of 699.04, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business’s quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the company posted $0.08 EPS. On average, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the 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 transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $50,497.60. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $65,000.00. Following the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,661,925 shares of company stock worth $268,580,958. 9.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PLTR shares. Mizuho upped their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 6th. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Citigroup increased their target price on shares of 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, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $83.95.

About Palantir Technologies

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.