Scientech Research LLC Buys New Position in Palantir Technologies Inc. (NYSE:PLTR)

Scientech Research LLC bought a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 2nd quarter, Holdings Channel.com reports. The firm bought 49,083 shares of the company’s stock, valued at approximately $1,243,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after purchasing an additional 1,980,495 shares during the period. ARK Investment Management LLC boosted its position in shares of Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after purchasing an additional 277,623 shares during the period. Legal & General Group Plc boosted its position in shares of Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after purchasing an additional 167,030 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its position in shares of Palantir Technologies by 19.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares during the period. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLTR. Jefferies Financial Group increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. DA Davidson raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Finally, Monness Crespi & Hardt decreased their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $27.29.

Insiders Place Their Bets

In related news, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the transaction, the director now directly owns 29,817 shares in the company, valued at $834,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the sale, the director now owns 29,817 shares of the company’s stock, valued at approximately $834,876. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the transaction, the director now owns 65,989 shares of the company’s stock, valued at $1,744,089.27. The disclosure for this sale can be found here. Insiders have sold a total of 9,644,559 shares of company stock valued at $346,929,762 in the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

PLTR opened at $36.86 on Friday. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $38.19. The business has a 50-day moving average of $31.43 and a 200-day moving average of $26.31. The company has a market capitalization of $82.08 billion, a PE ratio of 307.17 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share 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 company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same period in the previous year, the business posted $0.01 earnings per share. The firm’s revenue was up 27.2% on a year-over-year basis. On average, equities research analysts expect 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.