Jackson Square Capital LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Jackson Square Capital LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,311 shares of the company’s stock, valued at approximately $364,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Continuum Advisory LLC grew its position in shares of Palantir Technologies by 3.8% during the fourth 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. Heritage Wealth Management Inc. CA boosted its holdings in Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after purchasing an additional 111 shares in the last quarter. True Wealth Design LLC boosted its holdings in Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Gemmer Asset Management LLC boosted its holdings in Palantir Technologies by 1.6% in the first quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company’s stock valued at $639,000 after purchasing an additional 119 shares in the last quarter. Finally, Westover Capital Advisors LLC boosted its holdings in Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider now owns 702,786 shares of the company’s stock, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric H. Woersching sold 17,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the sale, the director now directly owns 12,562 shares in the company, valued at approximately $1,624,140.98. The trade was a 57.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,816,925 shares of company stock valued at $215,448,358 over the last quarter. Insiders own 9.23% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. DA Davidson boosted their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective for the company. Citigroup boosted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $86.30.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $137.40 on Friday. The firm has a market capitalization of $324.25 billion, a price-to-earnings ratio of 723.20, 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 $140.00. The stock’s fifty day moving average is $115.48 and its two-hundred day moving average is $94.61.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies’s revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.