Means Investment CO. Inc. Boosts Stake in Palantir Technologies Inc. (NYSE:PLTR)

Means Investment CO. Inc. increased its stake in Palantir Technologies Inc. (NYSE:PLTR) by 12.8% in the 3rd quarter, Holdings Channel reports. The fund owned 96,640 shares of the company’s stock after buying an additional 11,003 shares during the quarter. Means Investment CO. Inc.’s holdings in Palantir Technologies were worth $3,595,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies during the 2nd quarter valued at $25,000. West Paces Advisors Inc. raised its position in Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies in the second quarter worth $30,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in Palantir Technologies by 105.3% during 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 period. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Bank of America boosted their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Citigroup raised their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. DA Davidson upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Finally, Monness Crespi & Hardt cut their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $27.86.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now directly owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,747,176 shares of company stock valued at $646,951,347 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $42.97 on Friday. The company has a market capitalization of $96.23 billion, a price-to-earnings ratio of 252.78 and a beta of 2.72. The business’s 50 day moving average price is $35.60 and its two-hundred day moving average price is $28.10. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $44.39.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same quarter last year, the company posted $0.01 EPS. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share 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.