Grove Bank & Trust Grows Stake in Palantir Technologies Inc. (NYSE:PLTR)

Grove Bank & Trust grew its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 600.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,000 shares of the company’s stock after buying an additional 6,000 shares during the period. Grove Bank & Trust’s holdings in Palantir Technologies were worth $177,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Palantir Technologies by 6.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,967 shares of the company’s stock worth $789,000 after buying an additional 2,604 shares during the period. International Assets Investment Management LLC grew its stake in Palantir Technologies by 9.7% in the fourth quarter. International Assets Investment Management LLC now owns 168,653 shares of the company’s stock worth $2,896,000 after purchasing an additional 14,952 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Palantir Technologies by 654.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,054 shares of the company’s stock worth $327,000 after purchasing an additional 16,530 shares in the last quarter. Federated Hermes Inc. lifted its position in Palantir Technologies by 5,559.4% during the fourth quarter. Federated Hermes Inc. now owns 291,970 shares of the company’s stock valued at $5,013,000 after buying an additional 286,811 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Palantir Technologies by 28.1% during the 4th quarter. J.W. Cole Advisors Inc. now owns 31,421 shares of the company’s stock valued at $539,000 after buying an additional 6,883 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 0.4 %

NYSE:PLTR traded down $0.14 during midday trading on Friday, hitting $31.78. 34,121,175 shares of the company traded hands, compared to its average volume of 55,259,250. The firm has a market capitalization of $71.17 billion, a P/E ratio of 264.86, a P/E/G ratio of 5.66 and a beta of 2.71. The firm’s fifty day moving average is $27.65 and its 200-day moving average is $24.63. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $33.13.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PLTR. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Monness Crespi & Hardt reduced their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Finally, Raymond James raised their price target on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $23.93.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the transaction, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The disclosure for this sale can be found here. Insiders have sold 714,648 shares of company stock valued at $21,567,539 in the last ninety days. 12.93% of the stock is owned by company insiders.

About Palantir Technologies

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.