Los Angeles Capital Management LLC boosted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 23.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,305 shares of the company's stock after acquiring an additional 10,650 shares during the period. Los Angeles Capital Management LLC's holdings in Palantir Technologies were worth $773,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of PLTR. BlackRock Inc. increased its holdings in shares of Palantir Technologies by 2.7% in the fourth quarter. BlackRock Inc. now owns 84,965,431 shares of the company's stock worth $1,547,221,000 after purchasing an additional 2,213,503 shares during the last quarter. State Street Corp grew its stake in Palantir Technologies by 4.3% in the 4th quarter. State Street Corp now owns 33,369,876 shares of the company's stock worth $607,665,000 after acquiring an additional 1,377,707 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 19,873,634 shares of the company's stock valued at $361,379,000 after acquiring an additional 1,741,909 shares in the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $269,158,000. Finally, Renaissance Technologies LLC raised its position in Palantir Technologies by 13.1% during the 4th quarter. Renaissance Technologies LLC now owns 14,656,011 shares of the company's stock valued at $266,886,000 after purchasing an additional 1,696,483 shares in the last quarter. Hedge funds and other institutional investors own 40.02% of the company's stock.
Get Palantir Technologies alerts:Insiders Place Their Bets
In other Palantir Technologies news, insider David A. Glazer sold 105,553 shares of the business's stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $11.02, for a total transaction of $1,163,194.06. Following the sale, the insider now directly owns 1,911,484 shares in the company, valued at $21,064,553.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David A. Glazer sold 105,553 shares of Palantir Technologies stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $11.02, for a total value of $1,163,194.06. Following the completion of the transaction, the insider now owns 1,911,484 shares in the company, valued at approximately $21,064,553.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 77,607 shares of Palantir Technologies stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $10.11, for a total transaction of $784,606.77. Following the completion of the transaction, the insider now owns 606,526 shares of the company's stock, valued at approximately $6,131,977.86. The disclosure for this sale can be found here. Insiders have sold 427,935 shares of company stock worth $4,209,427 over the last ninety days. Corporate insiders own 13.22% of the company's stock.
Analyst Ratings Changes
PLTR has been the subject of several recent research reports. Monness Crespi & Hardt lowered shares of Palantir Technologies from a "buy" rating to a "neutral" rating in a report on Friday, July 22nd. Bank of America assumed coverage on shares of Palantir Technologies in a research report on Tuesday, June 21st. They set a "buy" rating and a $13.00 price target for the company. Morgan Stanley reduced their price target on Palantir Technologies from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded shares of Palantir Technologies from a "hold" rating to a "sell" rating and cut their price objective for the company from $11.00 to $8.00 in a report on Tuesday. Finally, The Goldman Sachs Group started coverage on shares of Palantir Technologies in a report on Thursday, June 23rd. They set a "neutral" rating and a $10.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $14.00.Palantir Technologies Stock Up 5.2 %
NYSE PLTR opened at $9.91 on Friday. Palantir Technologies Inc. has a 52 week low of $6.44 and a 52 week high of $29.29. The business's fifty day simple moving average is $9.47 and its 200-day simple moving average is $10.74. The firm has a market cap of $20.28 billion, a PE ratio of -36.70 and a beta of 3.79.
Palantir Technologies (NYSE:PLTR – Get Rating) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). Palantir Technologies had a positive return on equity of 0.06% and a negative net margin of 30.90%. The business had revenue of $473.00 million during the quarter, compared to analysts' expectations of $471.72 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company's revenue was up 25.9% on a year-over-year basis. Research analysts expect that Palantir Technologies Inc. will post -0.07 EPS for the current year.
About Palantir Technologies
(Get Rating)
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.
Read More
- Get a free copy of the StockNews.com research report on Palantir Technologies (PLTR)
- 2 Important Retail Stock Battles to Watch
- MarketBeat: Week in Review 8/8 – 8/12
- What Is WallStreetBets and What Stocks Are They Targeting?
- Institutions And Analysts Propel Jack In The Box Higher
- Can You Guess Which EV Stock Is Beating Tesla ?
Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NYSE:PLTR – Get Rating).
Receive News & Ratings for Palantir Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palantir Technologies and related companies with MarketBeat.com's FREE daily email newsletter.