Greenwich Wealth Management LLC Grows Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Greenwich Wealth Management LLC raised its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 217,953 shares of the company’s stock after acquiring 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.

A number of other hedge funds also recently added to or reduced their stakes in PLTR. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after acquiring an additional 3,029,317 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after purchasing an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC lifted its position in Palantir Technologies by 2.2% in the second 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 holdings in Palantir Technologies by 19.2% in 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Palantir Technologies by 4.2% during the 2nd 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. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $35.59 on Monday. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $36.01. The company 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. The stock has a fifty day moving average of $29.69 and a two-hundred day moving average of $25.50.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 EPS. On average, analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Argus initiated coverage on Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. DA Davidson raised their price objective 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. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.79.

Insider Buying and Selling at Palantir Technologies

In related news, Director Eric H. Woersching sold 3,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the sale, the director now directly owns 32,843 shares of the company’s stock, valued at approximately $853,918. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric H. Woersching sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the sale, the director now directly owns 32,843 shares of the company’s stock, valued at $853,918. The disclosure for this sale can be found here. Insiders have sold a total of 880,238 shares of company stock worth $27,776,572 in the last quarter. 12.93% of the stock is owned by insiders.

Palantir Technologies Company 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.