CX Institutional Buys New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

CX Institutional acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 737 shares of the company’s stock, valued at approximately $62,000.

A number of other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC grew its position 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. Northern Trust Corp increased its position in Palantir Technologies by 20.4% during the 4th 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 purchased a new position in shares of Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. FMR LLC lifted its holdings in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after buying 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 worth $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 2.9%

Shares of NASDAQ PLTR opened at $141.41 on Tuesday. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $144.86. The company has a 50-day moving average of $116.76 and a two-hundred day moving average of $95.53. The company has a market cap of $333.72 billion, a PE ratio of 744.30, a P/E/G ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 EPS. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research reports. DA Davidson lifted their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Citigroup lifted their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley raised their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $86.30.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 358,982 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Glazer sold 30,812 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the sale, the insider now owns 495,497 shares in the company, valued at $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,506,925 shares of company stock worth $188,456,658 over the last ninety days. 9.23% of the stock is currently 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.