Blue Trust Inc. Raises Position in Palantir Technologies Inc. (NYSE:PLTR)

Blue Trust Inc. lifted its stake in Palantir Technologies Inc. (NYSE:PLTR) by 42.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,646 shares of the company’s stock after purchasing an additional 4,945 shares during the period. Blue Trust Inc.’s holdings in Palantir Technologies were worth $422,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PLTR. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Palantir Technologies by 15.7% in the first 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 during the period. Nikko Asset Management Americas Inc. raised its stake in Palantir Technologies by 19.2% during the 1st 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 during the period. Charles Schwab Investment Management Inc. lifted its holdings in Palantir Technologies by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,063,645 shares of the company’s stock worth $121,283,000 after purchasing an additional 403,905 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Palantir Technologies by 31.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,877,457 shares of the company’s stock worth $135,241,000 after purchasing an additional 1,413,417 shares during the period. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Price Performance

Shares of NYSE:PLTR traded up $0.86 during trading on Friday, reaching $32.08. 64,870,638 shares of the company were exchanged, compared to its average volume of 55,685,449. The business’s fifty day simple moving average is $26.78 and its 200-day simple moving average is $24.09. The firm has a market capitalization of $71.44 billion, a PE ratio of 267.21, a P/E/G ratio of 5.29 and a beta of 2.71. 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 quarterly earnings data on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm 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 firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 10,907 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $21.43, for a total value of $233,737.01. Following the sale, the insider now directly owns 651,099 shares in the company, valued at approximately $13,953,051.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Heather A. Planishek sold 2,398 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the sale, the insider now directly owns 639,696 shares in the company, valued at approximately $13,625,524.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 10,907 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $21.43, for a total transaction of $233,737.01. Following the sale, the insider now directly owns 651,099 shares in the company, valued at approximately $13,953,051.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 506,580 shares of company stock valued at $14,748,074. 12.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PLTR has been the topic of several research analyst reports. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Raymond James boosted their target price on Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Citigroup raised their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and set a $35.00 target price on shares of Palantir Technologies in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.14.

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.