Assenagon Asset Management S.A. Buys 16,469 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Assenagon Asset Management S.A. boosted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 80.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,012 shares of the company’s stock after acquiring an additional 16,469 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Palantir Technologies were worth $1,377,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in Palantir Technologies during the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies in the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the 2nd quarter valued at about $30,000. Finally, Beacon Capital Management LLC boosted its stake in shares of Palantir Technologies by 269.5% in the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. DA Davidson raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Northland Securities assumed coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 target price on the stock. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.86.

Insider Activity

In other news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,204,508 shares of company stock worth $802,654,666 over the last ninety days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $41.94 on Friday. The company has a market capitalization of $93.92 billion, a P/E ratio of 246.72 and a beta of 2.72. The company’s 50 day moving average price is $37.98 and its two-hundred day moving average price is $29.50. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $45.14.

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

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.