Palantir Technologies Inc. (NYSE:PLTR) Stake Raised by Archer Investment Corp

Archer Investment Corp increased its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 62.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,812 shares of the company’s stock after buying an additional 700 shares during the quarter. Archer Investment Corp’s holdings in Palantir Technologies were worth $46,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its stake in Palantir Technologies by 9.7% during the 4th quarter. International Assets Investment Management LLC now owns 168,653 shares of the company’s stock valued at $2,896,000 after buying an additional 14,952 shares during the period. Truist Financial Corp raised its holdings in Palantir Technologies by 44.0% during the fourth quarter. Truist Financial Corp now owns 115,520 shares of the company’s stock worth $1,983,000 after purchasing an additional 35,295 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Palantir Technologies by 48.9% in the fourth quarter. Russell Investments Group Ltd. now owns 374,833 shares of the company’s stock worth $6,461,000 after purchasing an additional 123,048 shares during the period. Vantage Financial Partners LLC boosted its stake in Palantir Technologies by 20.2% during the 4th quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after purchasing an additional 10,124 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in shares of Palantir Technologies by 31.5% during the 4th quarter. First Trust Direct Indexing L.P. now owns 14,800 shares of the company’s stock valued at $254,000 after purchasing an additional 3,542 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLTR. Wedbush restated an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a report on Friday, August 2nd. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Mizuho cut shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $21.00 to $22.00 in a research note on Tuesday, July 16th. Jefferies Financial Group increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $25.00.

Palantir Technologies Trading Up 0.2 %

PLTR opened at $30.58 on Thursday. The stock has a fifty day moving average price of $28.61 and a 200 day moving average price of $25.00. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $33.13. The stock has a market cap of $68.10 billion, a price-to-earnings ratio of 254.83, a PEG ratio of 5.55 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its quarterly 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). The firm had revenue of $678.13 million during 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 quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Heather A. Planishek sold 14,016 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the sale, the insider now owns 576,023 shares in the company, valued at approximately $17,666,625.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the transaction, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the sale, the insider now directly owns 576,023 shares in the company, valued at $17,666,625.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 728,664 shares of company stock worth $21,997,409. 12.93% of the stock is owned by corporate insiders.

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.