Palantir Technologies Inc. (NASDAQ:PLTR) Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 358.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 87,660 shares of the company’s stock after acquiring an additional 68,521 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Palantir Technologies were worth $7,399,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PLTR. Assenagon Asset Management S.A. grew its position in Palantir Technologies by 15.0% in the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company’s stock valued at $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Pitcairn Co. purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $281,000. Sagespring Wealth Partners LLC grew its holdings in Palantir Technologies by 36.3% during the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company’s stock valued at $2,030,000 after purchasing an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Palantir Technologies during the 4th quarter worth $52,033,000. Finally, CX Institutional purchased a new stake in Palantir Technologies during the 1st quarter worth $62,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $149.15 on Tuesday. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $149.58. The firm’s 50-day moving average is $131.31 and its 200-day moving average is $104.45. The company has a market cap of $351.98 billion, a P/E ratio of 648.48, a PEG ratio of 12.13 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last issued its 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. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter last year, the company posted $0.08 earnings per share. Palantir Technologies’s revenue was up 39.4% on a year-over-year basis. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the sale, the insider directly owned 363,755 shares of the company’s stock, valued at $49,219,689.05. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric H. Woersching sold 10,214 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the sale, the director owned 2,348 shares in the company, valued at $307,470.60. The trade was a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,452,297 shares of company stock worth $186,222,373. Corporate insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective for the company. Mizuho upped their target price on Palantir Technologies from $94.00 to $116.00 and gave the company an “underperform” rating in a research report on Wednesday, June 11th. Finally, DA Davidson raised their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $90.37.

Palantir Technologies Company 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.