Impact Capital Partners LLC Boosts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Impact Capital Partners LLC increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 28.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 3,807 shares of the company’s stock after purchasing an additional 839 shares during the period. Impact Capital Partners LLC’s holdings in Palantir Technologies were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Northern Trust Corp raised its position in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Norges Bank purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. FMR LLC raised its position in Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the period. Finally, Invesco Ltd. raised its position in Palantir Technologies by 31.2% during 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 during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 6.5%

Shares of NASDAQ:PLTR opened at $127.72 on Friday. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $135.28. The stock has a market cap of $301.41 billion, a P/E ratio of 672.25, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64. The business’s 50 day moving average is $110.01 and its 200 day moving average is $92.37.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Palantir Technologies’s revenue was up 39.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Daiwa America upgraded Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Citigroup upped their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $83.95.

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $48,988. This represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,894,925 shares of company stock valued at $369,820,528 over the last quarter. 9.23% of the stock is owned by corporate insiders.

About Palantir Technologies

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.