Stephens Investment Management Group LLC Buys 119,523 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Stephens Investment Management Group LLC increased its stake in Palantir Technologies Inc. (NYSE:PLTR) by 20.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 700,818 shares of the company’s stock after acquiring an additional 119,523 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Palantir Technologies were worth $26,070,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Summit Securities Group LLC bought a new stake in Palantir Technologies during the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies during the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies during the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies during the 2nd quarter valued at $30,000. Finally, Beacon Capital Management LLC increased its stake in Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 0.9 %

NYSE PLTR opened at $41.94 on Friday. The company has a market cap of $93.92 billion, a PE ratio of 246.72 and a beta of 2.72. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $45.14. The firm’s 50-day simple moving average is $37.98 and its two-hundred day simple moving average is $29.50.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business 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%. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on PLTR shares. Bank of America lifted their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Citigroup lifted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Monness Crespi & Hardt cut their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Finally, Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.86.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Ryan D. Taylor sold 249,684 shares of the company’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 sale, the insider now directly owns 372,565 shares in the company, valued at $11,180,675.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,204,508 shares of company stock valued at $802,654,666 over the last three months. 12.93% of the stock is currently 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.