Main Street Financial Solutions LLC Raises Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Main Street Financial Solutions LLC lifted its stake in Palantir Technologies Inc. (NYSE:PLTR) by 31.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,099 shares of the company’s stock after purchasing an additional 6,768 shares during the period. Main Street Financial Solutions LLC’s holdings in Palantir Technologies were worth $712,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after acquiring an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC lifted its stake in shares of Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after purchasing an additional 277,623 shares during the period. Nikko Asset Management Americas Inc. boosted its position in shares of 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 purchasing an additional 1,580,548 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in 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 worth $185,575,000 after purchasing an additional 292,885 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 0.2 %

Shares of PLTR stock opened at $34.93 on Friday. The company has a 50 day moving average price of $29.52 and a 200-day moving average price of $25.40. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $35.40. The firm has a market capitalization of $78.22 billion, a PE ratio of 291.11, a P/E/G ratio of 6.15 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted 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). The company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the firm posted $0.01 EPS. Analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Argus started coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 price target for the company. Jefferies Financial Group boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Northland Securities assumed coverage on Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective for the company. Citigroup boosted their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, DA Davidson raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $26.79.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $11,180,675.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 in the company, valued at $11,180,675.65. 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 155,539 shares of the 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 transaction, the insider now owns 331,369 shares in the company, valued at $11,604,542.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 880,238 shares of company stock worth $27,776,572. 12.93% of the stock is owned by insiders.

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.