Grange Capital LLC Sells 61,984 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Grange Capital LLC reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 80.4% in the first quarter, HoldingsChannel.com reports. The firm owned 15,090 shares of the company’s stock after selling 61,984 shares during the period. Palantir Technologies comprises about 1.5% of Grange Capital LLC’s investment portfolio, making the stock its 23rd largest holding. Grange Capital LLC’s holdings in Palantir Technologies were worth $1,274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Palantir Technologies in the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. lifted its position in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $253,816,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Up 5.0%

PLTR opened at $149.15 on Tuesday. The business’s fifty day simple moving average is $131.31 and its 200 day simple moving average is $104.45. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $149.58. The stock has a market cap of $351.98 billion, a PE ratio of 648.48, a P/E/G ratio of 12.13 and a beta of 2.59.

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

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the completion of the transaction, the insider directly owned 363,755 shares in the company, valued at approximately $49,219,689.05. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric H. Woersching sold 10,214 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the completion of the transaction, the director owned 2,348 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 1,452,297 shares of company stock worth $186,222,373. Insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PLTR shares. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Cantor Fitzgerald increased their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. UBS Group reiterated a “positive” rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Finally, DA Davidson increased their price objective on 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 assigned a buy rating to the company’s stock. Based on 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.