Rhumbline Advisers Purchases 100,059 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Rhumbline Advisers increased its position in Palantir Technologies Inc. (NYSE:PLTR) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 2,722,027 shares of the company’s stock after buying an additional 100,059 shares during the quarter. Rhumbline Advisers’ holdings in Palantir Technologies were worth $68,949,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PLTR. Evolution Wealth Advisors LLC increased its holdings in shares of Palantir Technologies by 0.5% in the second quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after purchasing an additional 360 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Palantir Technologies by 2.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after acquiring an additional 379 shares during the period. Gradient Investments LLC lifted its position in Palantir Technologies by 21.4% during the second quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock worth $58,000 after acquiring an additional 406 shares during the last quarter. Apella Capital LLC boosted its holdings in shares of Palantir Technologies by 3.7% during the second quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock worth $323,000 after acquiring an additional 416 shares during the period. Finally, Valeo Financial Advisors LLC increased its stake in shares of Palantir Technologies by 1.2% during the second quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock worth $916,000 after purchasing an additional 416 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 0.2 %

Palantir Technologies stock opened at $30.58 on Thursday. The stock has a market cap of $68.48 billion, a PE ratio of 254.85, a P/E/G ratio of 5.55 and a beta of 2.72. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $33.13. The business’s 50-day moving average price is $28.61 and its two-hundred day moving average price is $25.00.

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

Analyst Ratings Changes

Several analysts recently issued reports on PLTR shares. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their price target for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Monness Crespi & Hardt cut their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Finally, DA Davidson raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average price target of $25.00.

Insider Activity

In related news, Director Eric H. Woersching sold 26,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $23.32, for a total transaction of $606,320.00. Following the sale, the director now owns 38,843 shares in the company, valued at approximately $905,818.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palantir Technologies news, Director Eric H. Woersching sold 26,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $23.32, for a total transaction of $606,320.00. Following the sale, the director now directly owns 38,843 shares of the company’s stock, valued at approximately $905,818.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the transaction, the insider now directly owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 728,664 shares of company stock worth $21,997,409. 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.