BOCHK Asset Management Ltd Purchases New Shares in Palantir Technologies Inc. (NYSE:PLTR)

BOCHK Asset Management Ltd acquired a new position in Palantir Technologies Inc. (NYSE:PLTR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,600 shares of the company’s stock, valued at approximately $97,000.

Several other large investors also recently made changes to their positions in PLTR. Summit Securities Group LLC bought a new position in Palantir Technologies in the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies in the second quarter worth about $30,000. Finally, Beacon Capital Management LLC raised its holdings in Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.2 %

Shares of PLTR traded up $0.53 during midday trading on Thursday, reaching $43.12. 23,017,071 shares of the stock were exchanged, compared to its average volume of 56,543,484. The stock’s 50 day simple moving average is $36.35 and its 200 day simple moving average is $28.52. The company has a market cap of $96.57 billion, a P/E ratio of 255.84 and a beta of 2.72. Palantir Technologies Inc. has a twelve month low of $14.48 and a twelve month high of $44.39.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 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 during the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the transaction, the director now owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the sale, the insider now owns 562,006 shares in the company, valued at approximately $22,452,139.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,747,176 shares of company stock valued at $646,951,347 over the last three months. 12.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PLTR shares. Northland Securities started coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective on the stock. DA Davidson upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Bank of America upped their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group boosted their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $27.86.

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.