1832 Asset Management L.P. Raises Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

1832 Asset Management L.P. raised its position in Palantir Technologies Inc. (NYSE:PLTR) by 248,208.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,625,300 shares of the company’s stock after buying an additional 3,623,840 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.16% of Palantir Technologies worth $83,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. West Paces Advisors Inc. lifted its stake in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares during the period. Bogart Wealth LLC increased its holdings in shares of Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after purchasing an additional 1,065 shares during the period. Halpern Financial Inc. increased its holdings in shares of Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after purchasing an additional 440 shares during the period. Finally, First United Bank & Trust acquired a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $26,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 2.1 %

Shares of NYSE:PLTR traded up $0.55 on Friday, hitting $27.18. The company had a trading volume of 27,432,224 shares, compared to its average volume of 43,057,688. Palantir Technologies Inc. has a 52-week low of $13.68 and a 52-week high of $29.83. The business has a 50 day moving average of $24.86 and a 200 day moving average of $22.95. The company has a market cap of $60.53 billion, a PE ratio of 226.52, a PEG ratio of 6.15 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The firm had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Thiel sold 5,000,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $20.78, for a total value of $103,900,000.00. Following the completion of the sale, the director now owns 15,733,625 shares of the company’s stock, valued at approximately $326,944,727.50. The disclosure for this sale can be found here. Insiders sold 11,467,179 shares of company stock worth $242,726,313 over the last three months. 12.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of recent research reports. DA Davidson boosted their target price on Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Monness Crespi & Hardt lowered Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a report on Friday, June 21st. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Wedbush reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a report on Monday, May 6th. Finally, HSBC upped their price objective on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Seven research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.32.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.