Bridgewater Associates LP Purchases 437,268 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Bridgewater Associates LP lifted its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 506.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 523,548 shares of the company’s stock after purchasing an additional 437,268 shares during the period. Bridgewater Associates LP’s holdings in Palantir Technologies were worth $19,476,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PLTR. Summit Securities Group LLC acquired a new stake in Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at $30,000. Finally, Beacon Capital Management LLC grew its holdings in shares of Palantir Technologies by 269.5% in the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the 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 completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,050 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.19, for a total value of $200,799.50. Following the completion of the sale, the director now owns 158,280 shares in the company, valued at $5,253,313.20. The trade was a 3.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,163,181 shares of company stock worth $1,603,288,758. 12.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PLTR shares. Monness Crespi & Hardt reduced their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Bank of America boosted their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday. Wedbush raised their price target on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $35.64.

Palantir Technologies Stock Up 0.5 %

NYSE:PLTR opened at $66.05 on Thursday. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $67.88. The stock’s fifty day simple moving average is $47.68 and its 200-day simple moving average is $34.33. The firm has a market capitalization of $150.46 billion, a P/E ratio of 330.25 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the previous year, the business earned $0.03 EPS. The firm’s revenue was up 30.0% on a year-over-year basis. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

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.