WT Asset Management Ltd Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

WT Asset Management Ltd bought a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 40,000 shares of the company’s stock, valued at approximately $1,488,000. Palantir Technologies makes up about 0.3% of WT Asset Management Ltd’s portfolio, making the stock its 18th largest position.

Other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue lifted its position in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Heritage Wealth Management Inc. CA acquired a new position in shares of Palantir Technologies in the 3rd quarter worth approximately $1,076,000. Cyndeo Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at approximately $6,339,000. Seven Grand Managers LLC acquired a new stake in shares of Palantir Technologies during the 3rd quarter valued at approximately $930,000. Finally, Dock Street Asset Management Inc. boosted its holdings in Palantir Technologies by 23.4% in the third quarter. Dock Street Asset Management Inc. now owns 998,953 shares of the company’s stock worth $37,161,000 after purchasing an additional 189,189 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 2.1 %

PLTR stock traded up $0.86 during mid-day trading on Friday, reaching $42.42. 14,023,617 shares of the stock traded hands, compared to its average volume of 55,982,383. The business has a 50-day moving average of $37.77 and a two-hundred day moving average of $29.36. The firm has a market capitalization of $95.00 billion, a PE ratio of 248.96 and a beta of 2.72. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $45.14.

Palantir Technologies (NYSE:PLTR) last released 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 net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of analyst reports. Monness Crespi & Hardt reduced 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. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Wedbush raised their target price on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.86.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.24, for a total transaction of $604,800.00. Following the completion of the sale, the insider now directly owns 612,006 shares of the company’s stock, valued at $18,507,061.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,204,508 shares of company stock valued at $802,654,666. 12.93% of the stock is currently owned by corporate insiders.

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.