1832 Asset Management L.P. Acquires 3,623,840 Shares of Palantir Technologies Inc. (NYSE:PLTR)

1832 Asset Management L.P. boosted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 248,208.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,625,300 shares of the company’s stock after purchasing an additional 3,623,840 shares during the quarter. 1832 Asset Management L.P.’s holdings in Palantir Technologies were worth $83,418,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PLTR. Raymond James & Associates raised its holdings in Palantir Technologies by 14.8% in the 4th quarter. Raymond James & Associates now owns 1,796,194 shares of the company’s stock valued at $30,841,000 after acquiring an additional 232,203 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Palantir Technologies by 10.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after acquiring an additional 116,220 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Palantir Technologies by 77.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,603 shares of the company’s stock valued at $337,000 after acquiring an additional 8,539 shares in the last quarter. PFG Investments LLC raised its holdings in Palantir Technologies by 5.8% in the 4th quarter. PFG Investments LLC now owns 25,870 shares of the company’s stock valued at $444,000 after acquiring an additional 1,425 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new position in Palantir Technologies in the 4th quarter valued at approximately $1,061,000. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent research reports. Citigroup upped their price target on Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. DA Davidson increased their target price on Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft increased their target price on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday, May 7th. Wedbush reissued an “outperform” rating and issued a $35.00 target price on shares of Palantir Technologies in a report on Monday, May 6th. Finally, Argus started coverage on Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 target price for the company. Seven equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.32.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the transaction, the director now directly owns 64,520,599 shares in the company, valued at approximately $1,376,224,376.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the transaction, the director now directly owns 64,520,599 shares in the company, valued at approximately $1,376,224,376.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the transaction, the insider now owns 298,012 shares in the company, valued at $8,749,632.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,467,179 shares of company stock worth $242,726,313. Insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 2.1 %

NYSE PLTR traded up $0.55 during trading hours on Friday, reaching $27.18. 27,432,224 shares of the company’s stock were exchanged, compared to its average volume of 43,057,688. The stock has a market cap of $60.53 billion, a PE ratio of 226.52, a price-to-earnings-growth ratio of 6.15 and a beta of 2.71. Palantir Technologies Inc. has a one year low of $13.68 and a one year high of $29.83. The firm has a fifty day moving average of $24.86 and a 200-day moving average of $22.95.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.16 EPS 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.