Prudential Financial Inc. Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

Prudential Financial Inc. acquired a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 38,640 shares of the company’s stock, valued at approximately $1,019,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Blueprint LLC purchased a new position in Palantir Technologies during the second quarter valued at approximately $27,000. Edmond DE Rothschild Holding S.A. purchased a new position in Palantir Technologies during the second quarter valued at approximately $32,000. Tsfg LLC grew its position in Palantir Technologies by 66.7% in the second quarter. Tsfg LLC now owns 1,250 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Huntington National Bank bought a new stake in Palantir Technologies in the second quarter worth approximately $34,000. Finally, Sandy Spring Bank grew its position in Palantir Technologies by 160.0% in the second quarter. Sandy Spring Bank now owns 1,300 shares of the company’s stock worth $34,000 after acquiring an additional 800 shares in the last quarter. 22.72% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have commented on PLTR shares. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 12th. Zacks Investment Research downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 19th. Wolfe Research decreased their target price on shares of Palantir Technologies from $25.00 to $20.00 and set a “market perform” rating for the company in a research report on Wednesday, November 10th. Morgan Stanley boosted their target price on shares of Palantir Technologies from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Palantir Technologies in a research report on Monday, November 1st. They issued a “hold” rating and a $25.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.22.

NYSE PLTR opened at $21.11 on Thursday. The company has a fifty day simple moving average of $24.65 and a 200 day simple moving average of $24.01. The company has a market cap of $41.23 billion, a P/E ratio of -78.19 and a beta of 6.32. Palantir Technologies Inc. has a 1 year low of $17.06 and a 1 year high of $45.00.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Tuesday, November 9th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. Palantir Technologies had a negative net margin of 35.81% and a positive return on equity of 19.62%. During the same quarter in the prior year, the company posted $0.09 earnings per share.

In other news, insider David A. Glazer sold 9,000 shares of the stock in a transaction on Thursday, September 16th. The shares were sold at an average price of $27.90, for a total value of $251,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 61,696 shares of the stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $20.76, for a total transaction of $1,280,808.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,720,472 shares of company stock valued at $191,429,864. Corporate insiders own 17.00% of the company’s stock.

About Palantir Technologies

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 for government operatives in the defense and intelligence sectors, 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.

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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