Plato Investment Management Ltd Raises Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Plato Investment Management Ltd lifted its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,071 shares of the company’s stock after buying an additional 2,291 shares during the period. Plato Investment Management Ltd’s holdings in Palantir Technologies were worth $1,522,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after buying an additional 1,980,495 shares during the period. ARK Investment Management LLC boosted its stake in Palantir Technologies by 2.2% during the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after buying an additional 277,623 shares during the period. Nikko Asset Management Americas Inc. increased its position in Palantir Technologies by 19.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after acquiring an additional 1,580,548 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Palantir Technologies by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after acquiring an additional 292,885 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total value of $5,446,975.78. Following the transaction, the insider now directly owns 331,369 shares of the company’s stock, valued at $11,604,542.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.74, for a total value of $674,800.00. Following the completion of the transaction, the insider now directly owns 576,023 shares of the company’s stock, valued at approximately $19,435,016.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the completion of the sale, the insider now owns 331,369 shares of the company’s stock, valued at $11,604,542.38. The disclosure for this sale can be found here. Insiders sold 880,238 shares of company stock valued at $27,776,572 over the last 90 days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 1.9 %

Shares of NYSE:PLTR opened at $35.59 on Monday. The company has a market capitalization of $79.26 billion, a PE ratio of 296.58, a P/E/G ratio of 6.15 and a beta of 2.72. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $36.01. The business’s fifty day simple moving average is $29.69 and its 200-day simple moving average is $25.50.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million during 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% compared to the same quarter last year. Research analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PLTR. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Monness Crespi & Hardt reduced their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. DA Davidson boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, July 16th. Finally, Argus began coverage on shares of Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target on the stock. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.79.

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.