Ithaka Group LLC Decreases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Ithaka Group LLC lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 28.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 62,244 shares of the company’s stock after selling 25,305 shares during the quarter. Ithaka Group LLC’s holdings in Palantir Technologies were worth $5,253,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PLTR. Invesco Ltd. boosted its holdings in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Capital World Investors purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $253,816,000. Northern Trust Corp lifted its position in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Clear Street Derivatives LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $216,953,000. Finally, Toronto Dominion Bank grew its position in shares of Palantir Technologies by 266.2% in the 4th quarter. Toronto Dominion Bank now owns 3,932,955 shares of the company’s stock valued at $297,449,000 after buying an additional 2,859,091 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other news, insider David A. Glazer sold 30,812 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the transaction, the insider directly owned 495,497 shares in the company, valued at $62,625,865.83. The trade was a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ryan D. Taylor sold 35,480 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. The trade was a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock worth $191,222,623 over the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Up 4.1%

NASDAQ PLTR opened at $160.66 on Tuesday. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $161.40. The stock has a market cap of $379.14 billion, a price-to-earnings ratio of 698.52, a price-to-earnings-growth ratio of 13.15 and a beta of 2.60. The company has a 50-day moving average price of $141.12 and a two-hundred day moving average price of $113.19.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $939.29 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PLTR shares. UBS Group restated a “positive” rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Morgan Stanley raised their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Mizuho upgraded Palantir Technologies from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Loop Capital raised their price objective on shares of Palantir Technologies from $155.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $96.45.

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.