Griffin Asset Management Inc. Acquires New Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Griffin Asset Management Inc. bought a new position in Palantir Technologies Inc. (NYSE:PLTR) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,605 shares of the company’s stock, valued at approximately $497,000.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares in the last quarter. Morgan Stanley increased its holdings in shares of Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after acquiring an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Palantir Technologies by 8.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock valued at $216,183,000 after acquiring an additional 955,992 shares in the last quarter. ARK Investment Management LLC lifted its holdings in Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after purchasing an additional 1,514,232 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its position in Palantir Technologies by 11.5% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 8,249,083 shares of the company’s stock worth $141,554,000 after purchasing an additional 850,687 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $25.33 on Friday. The firm has a market cap of $56.41 billion, a P/E ratio of 211.10, a price-to-earnings-growth ratio of 5.85 and a beta of 2.70. The firm’s 50-day simple moving average is $22.63 and its 200-day simple moving average is $21.51. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $27.50.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The company had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the sale, the director now owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Heather A. Planishek sold 10,907 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $21.43, for a total transaction of $233,737.01. Following the completion of the sale, the insider now directly owns 651,099 shares of the company’s stock, valued at approximately $13,953,051.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Insiders have sold 11,377,153 shares of company stock worth $240,054,945 over the last three months. Company insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Tuesday, May 7th. Citigroup raised their price target on Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Wedbush reissued an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research report on Monday, May 6th. Finally, HSBC raised their target price on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.25.

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.