WT Asset Management Ltd Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

WT Asset Management Ltd bought a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 40,000 shares of the company’s stock, valued at approximately $1,488,000. Palantir Technologies makes up approximately 0.3% of WT Asset Management Ltd’s portfolio, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PLTR. Summit Securities Group LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. acquired a new stake in Palantir Technologies in the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies during the second quarter worth approximately $30,000. Finally, Beacon Capital Management LLC increased its stake in shares of Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

PLTR traded up $0.86 during trading on Friday, reaching $42.42. 14,023,617 shares of the stock were exchanged, compared to its average volume of 55,982,383. The company has a market capitalization of $95.00 billion, a price-to-earnings ratio of 248.96 and a beta of 2.72. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $45.14. The business’s 50 day moving average price is $37.77 and its two-hundred day moving average price is $29.36.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data 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 company 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 revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 earnings per share. On average, analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,204,508 shares of company stock worth $802,654,666. 12.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on PLTR shares. Northland Securities began coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target for the company. Jefferies Financial Group increased their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.86.

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.