Tsfg LLC Increases Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Tsfg LLC raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 96.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,437 shares of the company’s stock after buying an additional 2,674 shares during the period. Tsfg LLC’s holdings in Palantir Technologies were worth $459,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PLTR. Allspring Global Investments Holdings LLC boosted its holdings in shares of Palantir Technologies by 134.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 417,677 shares of the company’s stock valued at $35,369,000 after purchasing an additional 239,178 shares during the period. Matisse Capital purchased a new stake in shares of Palantir Technologies in the first quarter valued at approximately $338,000. Hartmann Taylor Wealth Management LLC purchased a new stake in shares of Palantir Technologies in the first quarter valued at approximately $731,000. Kessler Investment Group LLC boosted its holdings in shares of Palantir Technologies by 2.9% in the first quarter. Kessler Investment Group LLC now owns 106,887 shares of the company’s stock valued at $9,021,000 after purchasing an additional 3,003 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Palantir Technologies by 17.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 793,703 shares of the company’s stock valued at $67,400,000 after purchasing an additional 119,575 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 9.4%

Shares of PLTR stock opened at $130.74 on Friday. The business’s fifty day simple moving average is $125.24 and its 200-day simple moving average is $99.44. The company has a market cap of $308.53 billion, a PE ratio of 568.43, a PEG ratio of 12.31 and a beta of 2.64. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now directly owns 403,171 shares of the company’s stock, valued at approximately $33,382,558.80. This represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,506,925 shares of company stock valued at $188,456,658. Corporate insiders own 9.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group boosted their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Royal Bank Of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Wedbush set a $140.00 price target on Palantir Technologies and gave the company an “outperform” rating in a report on Tuesday, May 6th. DA Davidson boosted their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target for the company. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $89.32.

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.