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

Prime Capital Investment Advisors LLC lifted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 61.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 252,945 shares of the company’s stock after acquiring an additional 95,889 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Palantir Technologies were worth $6,407,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Palantir Technologies by 1.6% during the first 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 last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position 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 valued at $335,284,000 after buying an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC grew its position 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 valued at $329,875,000 after buying an additional 277,623 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position 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 buying an additional 1,580,548 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in 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 valued at $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.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 155,539 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $35.02, for a total value of $5,446,975.78. Following the completion of the transaction, the insider now owns 331,369 shares of the company’s stock, valued at approximately $11,604,542.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ryan D. Taylor sold 155,539 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $35.02, for a total value of $5,446,975.78. Following the completion of the transaction, the insider now owns 331,369 shares of the company’s stock, valued at approximately $11,604,542.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the transaction, the director now directly owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. The disclosure for this sale can be found here. Insiders sold 880,238 shares of company stock valued at $27,776,572 in the last 90 days. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of analyst reports. Raymond James lifted their price objective on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Bank of America boosted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Argus assumed coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Stock Up 1.9 %

NYSE:PLTR opened at $35.59 on Monday. The company has a market capitalization of $79.26 billion, a PE ratio of 296.58, a price-to-earnings-growth ratio of 6.15 and a beta of 2.72. Palantir Technologies Inc. has a 52-week low of $13.68 and a 52-week high of $36.01. The stock has a fifty day simple moving average of $29.69 and a 200-day simple moving average of $25.50.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

About Palantir Technologies

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.