Meeder Advisory Services Inc. Acquires 12,043 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Meeder Advisory Services Inc. grew its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 60.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,981 shares of the company’s stock after purchasing an additional 12,043 shares during the period. Meeder Advisory Services Inc.’s holdings in Palantir Technologies were worth $810,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the second quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the second quarter worth about $25,000. West Paces Advisors Inc. raised its holdings in shares of Palantir Technologies by 110.7% in the 1st 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 in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares during the last quarter. Finally, Bogart Wealth LLC raised its stake in Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after purchasing an additional 1,065 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 155,539 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the transaction, the insider now directly owns 331,369 shares of the company’s stock, valued at approximately $11,604,542.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Ryan D. Taylor sold 155,539 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the completion of the sale, the insider now owns 331,369 shares of the company’s stock, valued at approximately $11,604,542.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.74, for a total transaction of $674,800.00. Following the completion of the transaction, the insider now directly owns 576,023 shares in the company, valued at approximately $19,435,016.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 880,238 shares of company stock valued at $27,776,572. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research analyst reports. Bank of America increased their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Raymond James raised their price objective on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.79.

Palantir Technologies Price Performance

PLTR stock opened at $35.59 on Friday. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $36.01. The stock has a market capitalization of $79.26 billion, a P/E ratio of 296.58, a P/E/G ratio of 6.15 and a beta of 2.72. The business has a fifty day moving average price of $29.69 and a 200-day moving average price of $25.49.

Palantir Technologies (NYSE:PLTR) last posted 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). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the prior year, the company posted $0.01 EPS. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current 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.