Graypoint LLC Buys 1,647 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Graypoint LLC lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,254 shares of the company’s stock after acquiring an additional 1,647 shares during the quarter. Graypoint LLC’s holdings in Palantir Technologies were worth $1,119,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in Palantir Technologies by 15.0% during the 1st 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. bought a new position in Palantir Technologies in the 4th quarter worth $281,000. Sagespring Wealth Partners LLC boosted its holdings in shares of 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 during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $52,033,000. Finally, CX Institutional bought a new stake in Palantir Technologies in the first quarter worth about $62,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 30,812 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the transaction, the insider owned 495,497 shares of the company’s stock, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 358,982 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the sale, the insider owned 6,432,258 shares of the company’s stock, valued at $812,973,088.62. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,485,632 shares of company stock valued at $191,222,623 in the last ninety days. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Up 2.0%

Palantir Technologies stock opened at $153.99 on Friday. The business has a 50-day simple moving average of $133.61 and a 200 day simple moving average of $105.61. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $155.68. The stock has a market cap of $363.40 billion, a price-to-earnings ratio of 669.52, a PEG ratio of 12.88 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business’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 EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PLTR. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Mizuho raised shares of Palantir Technologies from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $116.00 to $135.00 in a research note on Wednesday. Citigroup boosted their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Wedbush set a $160.00 target price on shares of Palantir Technologies in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $91.37.

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.