Montchanin Asset Management LLC Raises Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Montchanin Asset Management LLC boosted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 42.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,645 shares of the company’s stock after buying an additional 6,180 shares during the quarter. Montchanin Asset Management LLC’s holdings in Palantir Technologies were worth $523,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pursue Wealth Partners LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $1,741,000. Vanguard Group Inc. boosted its stake in 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 lifted its stake in shares of Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after buying an additional 102,479 shares during the period. Accel Wealth Management acquired a new stake in shares of Palantir Technologies during the first quarter worth $360,000. Finally, Panagora Asset Management Inc. lifted its stake in shares of Palantir Technologies by 185.6% during the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock worth $1,317,000 after buying an additional 49,839 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 72,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $31.18, for a total transaction of $2,260,550.00. Following the completion of the sale, the insider now owns 298,012 shares of the company’s stock, valued at $9,292,014.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction dated 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 owns 612,006 shares of the company’s stock, valued at approximately $18,507,061.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 72,500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $31.18, for a total transaction of $2,260,550.00. Following the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $9,292,014.16. The disclosure for this sale can be found here. Insiders sold 506,580 shares of company stock valued at $14,748,074 over the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PLTR shares. Citigroup lifted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $21.00 to $22.00 in a research note on Tuesday, July 16th. HSBC boosted their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. DA Davidson boosted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Finally, Wedbush restated an “outperform” rating and set a $35.00 target price on shares of Palantir Technologies in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.14.

Palantir Technologies Trading Up 2.8 %

PLTR traded up $0.86 on Friday, reaching $32.08. The stock had a trading volume of 64,870,638 shares, compared to its average volume of 55,751,404. The company has a market cap of $71.44 billion, a P/E ratio of 267.36, a price-to-earnings-growth ratio of 5.47 and a beta of 2.71. The business’s 50-day moving average price is $26.78 and its two-hundred day moving average price is $24.14. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $32.75.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 earnings per share. As a group, analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

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.