Royal London Asset Management Ltd. Purchases 52,284 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Royal London Asset Management Ltd. increased its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 6.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 811,354 shares of the company’s stock after purchasing an additional 52,284 shares during the period. Royal London Asset Management Ltd.’s holdings in Palantir Technologies were worth $20,552,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies in the second quarter worth $25,000. First United Bank & Trust purchased a new position in Palantir Technologies during the fourth quarter worth $26,000. West Paces Advisors Inc. raised its stake in shares of Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction that occurred on 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 owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Eric H. Woersching sold 3,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the sale, the director now owns 32,843 shares in the company, valued at approximately $853,918. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 724,699 shares of company stock valued at $22,329,596. 12.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent analyst reports. Raymond James boosted their target price on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Northland Securities assumed coverage on Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Palantir Technologies in a research report on Monday. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Jefferies Financial Group upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Stock Performance

NYSE PLTR opened at $34.85 on Thursday. The company has a market cap of $77.61 billion, a PE ratio of 290.42, a P/E/G ratio of 5.35 and a beta of 2.72. The firm’s 50 day moving average price is $29.34 and its 200-day moving average price is $25.34. Palantir Technologies Inc. has a 52-week low of $13.68 and a 52-week high of $35.20.

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

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.