6,163,892 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Bought by Nuveen LLC

Nuveen LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the first quarter, Holdings Channel.com reports. The fund bought 6,163,892 shares of the company’s stock, valued at approximately $520,232,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allegiance Financial Group Advisory Services LLC lifted its position in Palantir Technologies by 3.0% during the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company’s stock worth $246,000 after buying an additional 84 shares in the last quarter. Sovran Advisors LLC lifted its position in Palantir Technologies by 1.8% during the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company’s stock worth $460,000 after buying an additional 94 shares in the last quarter. Lodestone Wealth Management LLC lifted its position in Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company’s stock worth $755,000 after buying an additional 97 shares in the last quarter. Continuum Advisory LLC lifted its position in Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after buying an additional 98 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its position in Palantir Technologies by 0.5% during the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company’s stock worth $1,531,000 after buying an additional 99 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $186.96 on Monday. The stock has a market cap of $441.21 billion, a PE ratio of 623.22, a price-to-earnings-growth ratio of 10.54 and a beta of 2.60. The stock has a 50-day moving average of $145.64 and a 200-day moving average of $116.13. Palantir Technologies Inc. has a one year low of $29.10 and a one year high of $187.99.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $939.29 million. During the same period in the prior year, the business posted $0.09 EPS. Palantir Technologies’s revenue was up 48.0% on a year-over-year basis. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider David A. Glazer sold 30,812 shares of the business’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 value of $3,894,328.68. Following the completion of the transaction, the insider directly owned 495,497 shares in the company, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the insider owned 6,432,258 shares of the company’s stock, valued at $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock worth $196,472,623 in the last three months. 12.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PLTR shares. Mizuho upgraded shares of Palantir Technologies from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a report on Tuesday, August 5th. Royal Bank Of Canada boosted their price objective on Palantir Technologies from $40.00 to $45.00 and gave the stock an “underperform” rating in a report on Tuesday, August 5th. Citigroup reissued a “neutral” rating and set a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Finally, UBS Group reissued a “neutral” rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $136.61.

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.