Manchester Capital Management LLC Buys 5,448 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Manchester Capital Management LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 152.3% during the first quarter, HoldingsChannel.com reports. The fund owned 9,024 shares of the company’s stock after buying an additional 5,448 shares during the quarter. Manchester Capital Management LLC’s holdings in Palantir Technologies were worth $762,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allegiance Financial Group Advisory Services LLC lifted its position in shares of Palantir Technologies by 3.0% during the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company’s stock valued at $246,000 after buying an additional 84 shares in the last quarter. Sovran Advisors LLC raised its stake in Palantir Technologies by 1.8% during the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company’s stock worth $460,000 after acquiring an additional 94 shares during the period. Lodestone Wealth Management LLC lifted its holdings in Palantir Technologies by 1.1% during the first quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company’s stock valued at $755,000 after purchasing an additional 97 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after purchasing an additional 98 shares during the period. Finally, Kathmere Capital Management LLC increased its stake in shares of Palantir Technologies by 0.5% in the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company’s stock worth $1,531,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 2.6%

Palantir Technologies stock opened at $154.27 on Friday. The company’s 50-day moving average price is $140.37 and its 200-day moving average price is $112.27. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $160.89. The company has a market cap of $364.06 billion, a PE ratio of 670.74, a price-to-earnings-growth ratio of 13.15 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $863.89 million. During the same quarter in the previous year, the business posted $0.08 earnings per share. The business’s revenue was up 39.4% compared to the same quarter last year. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PLTR. Wedbush set a $160.00 target price on shares of Palantir Technologies in a research note on Thursday, July 10th. Loop Capital boosted their price objective on Palantir Technologies from $155.00 to $178.00 and gave the company a “buy” rating in a research report on Wednesday. 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 reissued a “positive” rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Finally, Morgan Stanley upped their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $96.45.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the transaction, the insider owned 592 shares of the company’s stock, valued at $74,822.88. This represents a 99.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the stock in a transaction on 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 sale, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,485,632 shares of company stock valued at $191,222,623. 9.23% of the stock is owned by company insiders.

Palantir Technologies 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.