Palantir Technologies Inc. (NYSE:PLTR) Shares Acquired by Nemes Rush Group LLC

Nemes Rush Group LLC grew its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 28.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,196 shares of the company’s stock after purchasing an additional 2,250 shares during the period. Nemes Rush Group LLC’s holdings in Palantir Technologies were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Summit Securities Group LLC purchased a new position in Palantir Technologies during the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies during the second quarter valued at $25,000. West Paces Advisors Inc. lifted its stake in Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position 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 worth $31,000 after acquiring an additional 691 shares during the period. Finally, Bogart Wealth LLC grew its stake in Palantir Technologies by 332.8% during the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after acquiring an additional 1,065 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In related news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the sale, the director now directly owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,644,559 shares of company stock valued at $346,929,762. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Down 0.7 %

Shares of Palantir Technologies stock opened at $36.84 on Monday. Palantir Technologies Inc. has a 12-month low of $14.48 and a 12-month high of $38.19. The stock has a 50 day moving average price of $31.43 and a two-hundred day moving average price of $26.33. The stock has a market capitalization of $82.50 billion, a P/E ratio of 307.03 and a beta of 2.72.

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

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research analyst reports. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Citigroup boosted their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group increased their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Bank of America boosted their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Monness Crespi & Hardt cut their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.29.

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.