Amalgamated Bank Grows Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Amalgamated Bank grew its stake in Palantir Technologies Inc. (NYSE:PLTR) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,982 shares of the company’s stock after acquiring an additional 6,472 shares during the quarter. Amalgamated Bank’s holdings in Palantir Technologies were worth $3,444,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PLTR. Vantage Financial Partners LLC raised its holdings in Palantir Technologies by 20.2% in the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after buying an additional 10,124 shares during the period. Dimensional Fund Advisors LP raised its stake in Palantir Technologies by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock valued at $44,091,000 after buying an additional 228,428 shares in the last quarter. Norges Bank bought a new position in Palantir Technologies during the fourth quarter worth $46,542,000. PNC Financial Services Group Inc. grew its position in shares of Palantir Technologies by 11.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock valued at $980,000 after buying an additional 5,759 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Palantir Technologies by 18.5% during the 4th quarter. Wells Fargo & Company MN now owns 3,200,037 shares of the company’s stock worth $54,945,000 after purchasing an additional 498,957 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $37.20 on Monday. The firm has a 50 day simple moving average of $30.57 and a two-hundred day simple moving average of $25.92. The company has a market cap of $83.31 billion, a P/E ratio of 310.03 and a beta of 2.72. Palantir Technologies Inc. has a one year low of $13.68 and a one year high of $37.35.

Palantir Technologies (NYSE:PLTR) last released its earnings results 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 net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The business’s revenue was up 27.2% on a year-over-year basis. On average, analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLTR. Bank of America increased their price objective on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Argus started coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target for the company. DA Davidson increased their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Jefferies Financial Group boosted their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Palantir Technologies in a research note on Monday, September 9th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.79.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the sale, the director now owns 69,039 shares in the company, valued at approximately $2,000,059.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the sale, the director now directly owns 69,039 shares in the company, valued at approximately $2,000,059.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the sale, the director now directly owns 29,817 shares in the company, valued at $834,876. The disclosure for this sale can be found here. Insiders sold a total of 5,383,238 shares of company stock valued at $190,231,672 in the last quarter. Insiders own 12.93% of the company’s stock.

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.