Oak Ridge Investments LLC Has $7.12 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Oak Ridge Investments LLC increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 874.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,392 shares of the company’s stock after buying an additional 75,734 shares during the period. Oak Ridge Investments LLC’s holdings in Palantir Technologies were worth $7,123,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PLTR. Allegiance Financial Group Advisory Services LLC lifted its stake in shares of Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company’s stock valued at $246,000 after purchasing an additional 84 shares during the period. Sovran Advisors LLC boosted its holdings in Palantir Technologies by 1.8% in the first quarter. Sovran Advisors LLC now owns 5,453 shares of the company’s stock worth $460,000 after acquiring an additional 94 shares in the last quarter. Lodestone Wealth Management LLC lifted its holdings in shares of Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company’s stock worth $755,000 after purchasing an additional 97 shares in the last quarter. Continuum Advisory LLC increased its stake in Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after purchasing an additional 98 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its holdings in Palantir Technologies by 0.5% during the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company’s stock worth $1,531,000 after buying an additional 99 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Loop Capital lifted their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. UBS Group reiterated a “neutral” rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on Palantir Technologies and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Royal Bank Of Canada increased their price objective on Palantir Technologies from $40.00 to $45.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald lifted their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $136.61.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the sale, the insider owned 367,691 shares in the company, valued at $46,472,465.49. This represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the 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 sale, the insider owned 592 shares in the company, valued at approximately $74,822.88. This represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock valued at $196,472,623 in the last quarter. Insiders own 9.23% of the company’s stock.

Palantir Technologies Trading Down 1.4%

Shares of NASDAQ PLTR opened at $184.37 on Thursday. The stock has a fifty day simple moving average of $148.82 and a two-hundred day simple moving average of $117.81. Palantir Technologies Inc. has a 1-year low of $29.31 and a 1-year high of $190.00. The firm has a market cap of $435.10 billion, a price-to-earnings ratio of 614.59, a price-to-earnings-growth ratio of 10.54 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period in the prior year, the company earned $0.09 earnings per share. Palantir Technologies’s revenue was up 48.0% compared to the same quarter last year. Analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.