Wedbush Securities Inc. Acquires 24,952 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Wedbush Securities Inc. raised its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 13.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,875 shares of the company’s stock after purchasing an additional 24,952 shares during the quarter. Wedbush Securities Inc.’s holdings in Palantir Technologies were worth $5,341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Palantir Technologies by 183.3% in the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after acquiring an additional 102,479 shares in the last quarter. Accel Wealth Management bought a new position in shares of Palantir Technologies in the 1st quarter worth $360,000. Panagora Asset Management Inc. lifted its stake in shares of Palantir Technologies by 185.6% during the 4th quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock worth $1,317,000 after purchasing an additional 49,839 shares during the last quarter. Finally, ProShare Advisors LLC bought a new stake in Palantir Technologies during the first quarter valued at about $262,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $32.95 on Monday. The firm’s fifty day moving average is $28.81 and its two-hundred day moving average is $25.11. The firm has a market cap of $73.79 billion, a price-to-earnings ratio of 252.77, a PEG ratio of 5.35 and a beta of 2.72. Palantir Technologies Inc. has a one year low of $13.68 and a one year high of $33.13.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same period last year, the business earned $0.01 earnings per share. The firm’s revenue was up 27.2% on a year-over-year basis. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Argus initiated coverage on shares of Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 target price for the company. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Monness Crespi & Hardt lowered their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $25.21.

Insider Buying and Selling at Palantir Technologies

In related news, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the transaction, the insider now owns 298,012 shares in the company, valued at approximately $8,749,632.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the sale, the insider now directly owns 372,565 shares in the company, valued at approximately $11,180,675.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the sale, the insider now owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 702,242 shares of company stock valued at $21,540,409. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies 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.