IFM Investors Pty Ltd Buys 31,491 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

IFM Investors Pty Ltd lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 8.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 406,681 shares of the company’s stock after acquiring an additional 31,491 shares during the period. IFM Investors Pty Ltd’s holdings in Palantir Technologies were worth $34,324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its position in shares of Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company’s stock valued at $4,191,000 after acquiring an additional 6,479 shares during the period. Pitcairn Co. bought a new stake in Palantir Technologies in the 4th quarter worth approximately $281,000. Sagespring Wealth Partners LLC raised its stake in Palantir Technologies by 36.3% during the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company’s stock valued at $2,030,000 after purchasing an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Palantir Technologies in the 4th quarter valued at about $52,033,000. Finally, CX Institutional purchased a new position in shares of Palantir Technologies in the 1st quarter worth approximately $62,000. 45.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLTR. Mizuho raised their price target on Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 11th. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Morgan Stanley raised their price target on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets began coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price for the company. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $89.32.

Insiders Place Their Bets

In other Palantir Technologies news, insider David A. Glazer sold 3,418 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares of the company’s stock, valued at approximately $61,987,191.63. This trade represents a 0.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 34,357 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.96, for a total value of $4,327,607.72. Following the sale, the insider directly owned 592 shares of the company’s stock, valued at approximately $74,568.32. This represents a 98.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,451,497 shares of company stock valued at $186,110,685. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $134.27 on Friday. The stock’s 50-day moving average is $128.04 and its two-hundred day moving average is $101.06. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $148.22. The firm has a market cap of $316.85 billion, a price-to-earnings ratio of 583.76, a PEG ratio of 11.28 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 6.55% and a net margin of 18.32%. The business’s revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. As a group, research analysts predict 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.