Greenwich Wealth Management LLC Boosts Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Greenwich Wealth Management LLC boosted its stake in Palantir Technologies Inc. (NYSE:PLTR) by 1.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 217,953 shares of the company’s stock after buying an additional 2,099 shares during the period. Greenwich Wealth Management LLC’s holdings in Palantir Technologies were worth $5,521,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Vanguard Group Inc. increased its stake in Palantir Technologies by 1.6% during the first 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 holdings 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 valued at $335,284,000 after buying an additional 1,980,495 shares during the period. ARK Investment Management LLC grew its position in shares of Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after buying an additional 277,623 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake 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 worth $226,180,000 after acquiring an additional 1,580,548 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings 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 acquiring an additional 292,885 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR opened at $35.59 on Monday. The stock has a market capitalization of $79.26 billion, a price-to-earnings ratio of 296.58, a PEG ratio of 6.15 and a beta of 2.72. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $36.01. The company has a 50 day moving average price of $29.69 and a 200 day moving average price of $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 the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million for 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 revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 155,539 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 331,369 shares of the company’s stock, valued at approximately $11,604,542.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Palantir Technologies news, insider Ryan D. Taylor sold 155,539 shares of the firm’s stock in a transaction dated 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 directly owns 331,369 shares in the company, valued at approximately $11,604,542.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the transaction, the director now owns 69,039 shares in the company, valued at approximately $2,000,059.83. The disclosure for this sale can be found here. Insiders have sold a total of 880,238 shares of company stock valued at $27,776,572 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLTR. Bank of America upped their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Raymond James upped their price objective on Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Northland Securities initiated coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price for the company. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.