Palantir Technologies Inc. (NASDAQ:PLTR) Position Boosted by Beacon Capital Management LLC

Beacon Capital Management LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 21.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,842 shares of the company’s stock after buying an additional 322 shares during the quarter. Beacon Capital Management LLC’s holdings in Palantir Technologies were worth $155,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in Palantir Technologies by 8.6% in the fourth 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 period. Northern Trust Corp lifted its position in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Norges Bank acquired a new stake in Palantir Technologies in the fourth quarter worth approximately $1,360,191,000. FMR LLC lifted its position in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% during the 4th 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. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Down 2.3%

PLTR opened at $138.20 on Wednesday. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $144.86. The stock has a fifty day moving average price of $117.68 and a 200 day moving average price of $95.83. The stock has a market cap of $326.14 billion, a price-to-earnings ratio of 600.87, a PEG ratio of 11.93 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm’s revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price for the company. Mizuho raised their price objective on Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 11th. Loop Capital set a $155.00 target price on Palantir Technologies and gave the stock a “buy” rating in a report on Thursday, June 12th. UBS Group upped their target price on Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Finally, Daiwa America raised Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $89.32.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,506,925 shares of company stock worth $188,456,658. 12.93% of the stock is owned by corporate insiders.

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.