Beaumont Financial Partners LLC grew its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 4.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 217,719 shares of the company’s stock after purchasing an additional 9,912 shares during the period. Beaumont Financial Partners LLC’s holdings in Palantir Technologies were worth $2,989,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new position in Palantir Technologies during the fourth quarter valued at about $269,158,000. Bank of Montreal Can boosted its stake in Palantir Technologies by 1,623.6% during the fourth quarter. Bank of Montreal Can now owns 10,157,313 shares of the company’s stock valued at $189,840,000 after buying an additional 9,568,020 shares in the last quarter. BlackRock Inc. boosted its stake in Palantir Technologies by 2.7% during the fourth quarter. BlackRock Inc. now owns 84,965,431 shares of the company’s stock valued at $1,547,221,000 after buying an additional 2,213,503 shares in the last quarter. Sozo Ventures GP I L.P. bought a new position in Palantir Technologies during the fourth quarter valued at about $36,436,000. Finally, Geode Capital Management LLC boosted its stake in Palantir Technologies by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 19,873,634 shares of the company’s stock valued at $361,379,000 after buying an additional 1,741,909 shares in the last quarter. 40.02% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PLTR has been the subject of a number of recent analyst reports. Raymond James initiated coverage on Palantir Technologies in a research report on Thursday, July 21st. They issued a “strong-buy” rating and a $20.00 price target for the company. Citigroup decreased their price target on Palantir Technologies from $10.00 to $7.00 in a research report on Tuesday, May 10th. Monness Crespi & Hardt lowered Palantir Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, July 22nd. The Goldman Sachs Group initiated coverage on Palantir Technologies in a research report on Thursday, June 23rd. They issued a “neutral” rating and a $10.00 price target for the company. Finally, Royal Bank of Canada downgraded Palantir Technologies from a “sector perform” rating to an “underperform” rating and reduced their price objective for the stock from $12.00 to $6.00 in a research note on Monday, May 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.75.
Insider Activity at Palantir Technologies
Palantir Technologies Price Performance
Shares of NYSE:PLTR traded up $0.13 during trading on Friday, hitting $11.45. 50,264,847 shares of the stock were exchanged, compared to its average volume of 33,633,224. Palantir Technologies Inc. has a 1-year low of $6.44 and a 1-year high of $29.29. The company’s fifty day simple moving average is $9.39 and its 200-day simple moving average is $10.89.
Palantir Technologies (NYSE:PLTR – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $446.36 million during the quarter, compared to analyst estimates of $443.51 million. Palantir Technologies had a negative net margin of 30.25% and a positive return on equity of 12.04%. Palantir Technologies’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 EPS. Sell-side analysts predict that Palantir Technologies Inc. will post -0.08 earnings per share for the current year.
Palantir Technologies Profile
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.
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