Perennial Investment Advisors LLC Increases Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Perennial Investment Advisors LLC boosted its position in Palantir Technologies Inc. (NYSE:PLTR) by 179.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 21,715 shares of the company’s stock after purchasing an additional 13,941 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Palantir Technologies were worth $550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Palantir Technologies by 15.7% in the 1st 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 stake in Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after purchasing an additional 277,623 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of 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 worth $226,180,000 after buying an additional 1,580,548 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Palantir Technologies by 4.2% in 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 buying an additional 292,885 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’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 completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’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 completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ryan D. Taylor sold 155,539 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the completion of the sale, the insider now directly owns 331,369 shares of the company’s stock, valued at $11,604,542.38. The disclosure for this sale can be found here. Insiders have sold a total of 5,377,238 shares of company stock valued at $190,013,572 in the last quarter. Insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLTR. Raymond James increased their price target on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Citigroup increased their price target 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. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. DA Davidson increased their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, Jefferies Financial Group increased their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.79.

Palantir Technologies Stock Up 0.5 %

Shares of Palantir Technologies stock opened at $36.48 on Wednesday. The firm has a market cap of $81.70 billion, a PE ratio of 304.03, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $37.05. The company’s fifty day simple moving average is $30.04 and its two-hundred day simple moving average is $25.66.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 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%. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

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.