Rhumbline Advisers Grows Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Rhumbline Advisers lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 4.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,186,489 shares of the company’s stock after purchasing an additional 163,040 shares during the period. Rhumbline Advisers’ holdings in Palantir Technologies were worth $353,340,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Tallon Kerry Patrick purchased a new position in Palantir Technologies in the 4th quarter worth approximately $289,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $15,177,000. Revolve Wealth Partners LLC purchased a new position in Palantir Technologies during the fourth quarter worth approximately $450,000. R Squared Ltd purchased a new position in Palantir Technologies during the fourth quarter worth approximately $33,000. Finally, Hantz Financial Services Inc. boosted its stake in Palantir Technologies by 37.5% during the fourth quarter. Hantz Financial Services Inc. now owns 3,555 shares of the company’s stock worth $269,000 after buying an additional 970 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the transaction, the director now directly owns 184,617 shares in the company, valued at approximately $15,993,370.71. This trade represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,901,701 shares of company stock valued at $370,407,533 in the last ninety days. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Trading Up 3.5%

PLTR opened at $126.63 on Friday. The stock’s 50-day moving average price is $105.90 and its 200 day moving average price is $90.06. Palantir Technologies Inc. has a 12-month low of $21.01 and a 12-month high of $133.49. The firm has a market cap of $298.84 billion, a price-to-earnings ratio of 666.51, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on PLTR shares. Morgan Stanley raised their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. UBS Group lifted their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Finally, Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $83.95.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.