Bridgewater Associates LP Buys 437,268 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Bridgewater Associates LP lifted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 506.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 523,548 shares of the company’s stock after purchasing an additional 437,268 shares during the period. Bridgewater Associates LP’s holdings in Palantir Technologies were worth $19,476,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Summit Securities Group LLC acquired a new position in Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies during the second quarter worth about $30,000. Finally, Beacon Capital Management LLC increased its position in Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the sale, the director now owns 152,280 shares of the company’s stock, valued at $5,535,378. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction 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 sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,163,181 shares of company stock worth $1,603,288,758 over the last three months. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $66.05 on Thursday. The stock’s fifty day moving average price is $47.68 and its two-hundred day moving average price is $34.33. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $67.88. The company has a market cap of $150.46 billion, a PE ratio of 330.25 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. On average, equities analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on PLTR. Monness Crespi & Hardt reduced their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Wedbush increased their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies 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.