University of Texas Texas AM Investment Management Co. Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,181 shares of the company’s stock, valued at approximately $30,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Palantir Technologies by 15.7% in 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 boosted its position in Palantir Technologies by 2.2% during the 2nd 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. Legal & General Group Plc grew its stake in shares of Palantir Technologies by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after acquiring an additional 167,030 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. raised its holdings in shares of Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLTR. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Wedbush raised their price objective on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. DA Davidson raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Finally, Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.29.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the transaction, the director now owns 69,039 shares in the company, valued at approximately $2,000,059.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Peter Thiel sold 3,989,204 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $36.94, for a total transaction of $147,361,195.76. Following the sale, the director now owns 42,683,569 shares of the company’s stock, valued at $1,576,731,038.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the transaction, the director now owns 69,039 shares in the company, valued at approximately $2,000,059.83. The disclosure for this sale can be found here. Insiders have sold a total of 17,814,881 shares of company stock valued at $648,616,023 in the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

NYSE PLTR opened at $37.51 on Thursday. The stock has a market cap of $84.00 billion, a PE ratio of 312.61 and a beta of 2.72. The firm has a 50-day moving average of $31.98 and a 200-day moving average of $26.59. Palantir Technologies Inc. has a 52-week low of $14.48 and a 52-week high of $38.19.

Palantir Technologies (NYSE:PLTR) last issued 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). 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 earned $0.01 earnings per share. The company’s revenue was up 27.2% on a year-over-year basis. As a group, analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

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.