Allen Holding Inc. NY lifted its stake in Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 9.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,000,000 shares of the company’s stock after purchasing an additional 250,000 shares during the quarter. Palantir Technologies comprises 9.6% of Allen Holding Inc. NY’s investment portfolio, making the stock its 3rd largest position. Allen Holding Inc. NY’s holdings in Palantir Technologies were worth $75,990,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in PLTR. Summit Securities Group LLC purchased a new position in Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the 2nd quarter worth $25,000. West Paces Advisors Inc. increased its position in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the last quarter. Finally, Bogart Wealth LLC grew its stake in shares of Palantir Technologies by 332.8% during the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after acquiring an additional 1,065 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.
Palantir Technologies Stock Performance
Shares of NYSE PLTR opened at $35.59 on Friday. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $36.01. The company’s fifty day moving average price is $29.69 and its 200 day moving average price is $25.49. The company has a market capitalization of $79.26 billion, a PE ratio of 296.58, a price-to-earnings-growth ratio of 6.15 and a beta of 2.72.
Insider Activity at Palantir Technologies
In related news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Ryan D. Taylor sold 155,539 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the completion of the sale, the insider now owns 331,369 shares of the company’s stock, valued at $11,604,542.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 880,238 shares of company stock valued at $27,776,572. 12.93% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of analysts recently commented on PLTR shares. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Raymond James lifted their price objective on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their target price for the company from $21.00 to $22.00 in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft raised their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Finally, DA Davidson boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.79.
Read Our Latest Stock Analysis on Palantir Technologies
Palantir Technologies Company 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.
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