46,910 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Bought by CloudAlpha Capital Management Limited Hong Kong

CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 46,910 shares of the company’s stock, valued at approximately $3,959,000. Palantir Technologies comprises about 0.3% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 29th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Drive Wealth Management LLC raised its holdings in shares of Palantir Technologies by 57.8% in the first quarter. Drive Wealth Management LLC now owns 5,470 shares of the company’s stock worth $462,000 after acquiring an additional 2,004 shares during the last quarter. Trilogy Capital Inc. raised its holdings in shares of Palantir Technologies by 39.0% in the first quarter. Trilogy Capital Inc. now owns 6,064 shares of the company’s stock worth $512,000 after acquiring an additional 1,701 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Palantir Technologies by 40.8% in the first quarter. Pacer Advisors Inc. now owns 839,919 shares of the company’s stock worth $70,889,000 after acquiring an additional 243,490 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Palantir Technologies by 775.0% in the first quarter. Assetmark Inc. now owns 10,421 shares of the company’s stock worth $880,000 after acquiring an additional 9,230 shares during the last quarter. Finally, Navellier & Associates Inc. raised its holdings in shares of Palantir Technologies by 108.7% in the first quarter. Navellier & Associates Inc. now owns 70,888 shares of the company’s stock worth $5,983,000 after acquiring an additional 36,927 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $154.86 on Friday. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $155.68. The business’s 50-day simple moving average is $136.44 and its 200 day simple moving average is $108.24. The stock has a market cap of $365.46 billion, a price-to-earnings ratio of 673.30, a price-to-earnings-growth ratio of 13.20 and a beta of 2.59.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PLTR. DA Davidson boosted their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Mizuho raised Palantir Technologies from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Citigroup lifted their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, Daiwa Capital Markets began coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.37.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the sale, the director owned 62,887 shares in the company, valued at $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan D. Taylor sold 33,335 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total transaction of $5,000,250.00. Following the sale, the insider owned 363,755 shares of the company’s stock, valued at approximately $54,563,250. The trade was a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock valued at $191,222,623 over the last quarter. 9.23% of the stock is owned by company insiders.

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.