Ieq Capital LLC Grows Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Ieq Capital LLC raised its stake in Palantir Technologies Inc. (NYSE:PLTR) by 5.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 150,862 shares of the company’s stock after buying an additional 8,225 shares during the quarter. Ieq Capital LLC’s holdings in Palantir Technologies were worth $3,821,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Palantir Technologies by 1.6% in the first 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 last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Palantir Technologies by 15.7% during 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 acquiring an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC raised its position in Palantir Technologies by 2.2% during the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in Palantir Technologies by 19.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after acquiring an additional 1,580,548 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Palantir Technologies by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after purchasing an additional 292,885 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. Citigroup lifted their price objective on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Argus began coverage on Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Finally, Mizuho lowered shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their target price for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Stock Performance

PLTR opened at $37.20 on Friday. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $37.35. The company’s 50 day simple moving average is $30.57 and its 200 day simple moving average is $25.90. The stock has a market capitalization of $83.31 billion, a PE ratio of 310.03 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 EPS. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’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 completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,383,238 shares of company stock valued at $190,231,672. Company insiders own 12.93% of the company’s stock.

About Palantir Technologies

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.