Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Hartline Investment Corp

by · The Markets Daily

Hartline Investment Corp increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 1.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 185,983 shares of the company’s stock after purchasing an additional 2,999 shares during the quarter. Palantir Technologies accounts for about 2.1% of Hartline Investment Corp’s holdings, making the stock its 15th largest holding. Hartline Investment Corp’s holdings in Palantir Technologies were worth $15,697,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in Palantir Technologies in the 4th quarter valued at $1,360,191,000. Geode Capital Management LLC boosted its stake in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after buying an additional 3,907,022 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors acquired a new position in Palantir Technologies during the fourth quarter worth about $253,816,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 1.6%

Shares of NASDAQ PLTR opened at $134.27 on Friday. The stock has a market cap of $316.85 billion, a price-to-earnings ratio of 583.76, a PEG ratio of 11.28 and a beta of 2.59. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22. The company’s 50-day moving average price is $128.04 and its 200 day moving average price is $101.06.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the business earned $0.08 earnings per share. The company’s quarterly revenue was up 39.4% on a year-over-year basis. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLTR. Daiwa America upgraded Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Royal Bank Of Canada reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Morgan Stanley boosted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. DA Davidson raised their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target for the company. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.32.

View Our Latest Report on PLTR

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 309,696 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 $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares of the company’s stock, valued at $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company’s stock, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,497 shares of company stock worth $186,110,685 in the last ninety days. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Company Profile

(Free Report)

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.

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