Byrne Asset Management LLC increased its stake in shares of Palantir Technologies Inc. (NYSE: PLTR – Get Rating) by 27.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 7,035 shares of the company stock after acquiring an additional 1,500 shares during the period. Byrne Asset Management LLC’s holdings in Palantir Technologies were worth $ 97,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Franklin Resources Inc. bought a new stake in Palantir Technologies during the third quarter worth about $ 763,000. Dimensional Fund Advisors LP raised its holdings in Palantir Technologies by 8.5% during the third quarter. Dimensional Fund Advisors LP now owns 449,640 shares of the company stock worth $ 10,809,000 after acquiring an additional 35,182 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in Palantir Technologies during the third quarter worth about $ 647,000. Invesco Ltd. raised its holdings in Palantir Technologies by 45.4% during the third quarter. Invesco Ltd. now owns 916,038 shares of the company stock worth $ 22,021,000 after acquiring an additional 285,838 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in Palantir Technologies by 55.7% during the third quarter. Guggenheim Capital LLC now owns 33,847 shares of the company stock worth $ 814,000 after buying an additional 12,104 shares during the last quarter. Institutional investors and hedge funds own 40.02% of the company stock.
Palantir Technologies stock opened at $ 8.24 on Monday. Palantir Technologies Inc. has a 12 month low of $ 6.44 and a 12 month high of $ 29.29. The stock’s 50 day moving average is $ 9.57 and its 200-day moving average is $ 12.82. The company has a market capitalization of $ 16.73 billion, a price-to-earnings ratio of -32.96 and a beta of 5.05.
Palantir Technologies (NYSE: PLTR – Get Rating) last posted its 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 firm 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 revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period in the previous year, the company posted $ 0.04 EPS. Sell-side analysts predict that Palantir Technologies Inc. will post -0.07 EPS for the current year.
In related news, Director Alexander D. Moore sold 36,500 shares of the stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $ 13.75, for a total transaction of $ 501,875.00. Following the sale, the director now owns 1,939,626 shares of the company stock, valued at $ 26,669,857.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander D. Moore sold 11,377 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $ 8.89, for a total value of $ 101,141.53. Following the sale, the director now directly owns 1,960,928 shares in the company, valued at approximately $ 17,432,649.92. The disclosure for this sale can be found here. Insiders have sold 119,199 shares of company stock worth $ 1,178,652 in the last three months. 17.00% of the stock is currently owned by company insiders.
PLTR has been the topic of a number of recent analyst reports. Citigroup lowered their price target on Palantir Technologies from $ 10.00 to $ 7.00 in a research report on Tuesday, May 10th. Morgan Stanley raised Palantir Technologies from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $ 24.00 to $ 16.00 in a research report on Monday, March 7th. Royal Bank of Canada downgraded Palantir Technologies from a “sector perform” rating to an “underperform” rating and lowered their price target for the stock from $ 12.00 to $ 6.00 in a research report on Monday, May 9th. Monness Crespi & Hardt initiated coverage on Palantir Technologies in a research report on Monday, April 11th. They set a “buy” rating and a $ 20.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Palantir Technologies from $ 15.00 to $ 11.00 in a research report on Tuesday, May 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $ 14.89.
About Palantir Technologies: (Get Rating)
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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