Montchanin Asset Management LLC Makes New $333,000 Investment in Palantir Technologies Inc. (NYSE:PLTR)

Montchanin Asset Management LLC bought a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,465 shares of the company’s stock, valued at approximately $333,000.

Other institutional investors also recently modified their holdings of the company. West Paces Advisors Inc. increased its stake in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares in the last quarter. Bogart Wealth LLC grew its position in Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after acquiring an additional 1,065 shares during the last quarter. Halpern Financial Inc. raised its stake in Palantir Technologies by 44.0% during the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after acquiring an additional 440 shares in the last quarter. Finally, Beacon Capital Management LLC lifted its holdings in shares of Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after acquiring an additional 1,105 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NYSE:PLTR traded down $0.81 during trading on Thursday, reaching $26.08. 31,055,493 shares of the stock were exchanged, compared to its average volume of 54,490,625. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $29.83. The stock has a fifty day moving average of $25.29 and a two-hundred day moving average of $23.18. The firm has a market cap of $58.08 billion, a price-to-earnings ratio of 217.35, a price-to-earnings-growth ratio of 6.09 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research report on Monday, May 6th. Jefferies Financial Group upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday. HSBC raised their price objective on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a report on Tuesday, May 7th. Finally, Argus initiated coverage on Palantir Technologies in a report on Monday, June 17th. They set a “buy” rating and a $29.00 price target for the company. Seven analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.96.

Insider Buying and Selling at Palantir Technologies

In other news, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the transaction, the insider now owns 298,012 shares in the company, valued at $8,749,632.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David A. Glazer sold 90,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the sale, the insider now owns 298,012 shares in the company, valued at $8,749,632.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the transaction, the director now owns 69,039 shares in the company, valued at $2,000,059.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,447,179 shares of company stock worth $242,285,913. Insiders own 12.93% of the company’s stock.

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.