CENTRAL TRUST Co raised its holdings in Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 85.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,150 shares of the company’s stock after purchasing an additional 7,000 shares during the period. CENTRAL TRUST Co’s holdings in Palantir Technologies were worth $128,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of PLTR. AlphaCrest Capital Management LLC purchased a new position in shares of Palantir Technologies during the first quarter valued at approximately $206,000. D.A. Davidson & CO. increased its position in Palantir Technologies by 18.6% during the first quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock worth $200,000 after purchasing an additional 2,286 shares during the last quarter. MetLife Investment Management LLC acquired a new position in Palantir Technologies during the first quarter worth approximately $1,475,000. Cibc World Market Inc. increased its position in Palantir Technologies by 38.3% during the first quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock worth $3,114,000 after purchasing an additional 62,814 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Palantir Technologies by 71.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock worth $15,832,000 after purchasing an additional 482,171 shares during the last quarter. Hedge funds and other institutional investors own 31.57% of the company’s stock.
Palantir Technologies Stock Performance
Shares of PLTR opened at $15.52 on Tuesday. The firm has a market cap of $32.86 billion, a PE ratio of -119.38, a PEG ratio of 5.39 and a beta of 2.69. The firm’s 50 day moving average price is $12.48 and its 200 day moving average price is $9.41. Palantir Technologies Inc. has a twelve month low of $5.84 and a twelve month high of $17.16.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on PLTR shares. Bank of America upped their price target on shares of Palantir Technologies from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, June 12th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Monday, March 27th. Raymond James lowered shares of Palantir Technologies from a “strong-buy” rating to an “outperform” rating and increased their price objective for the stock from $15.00 to $18.00 in a research report on Tuesday, June 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $6.00 to $7.00 in a research report on Tuesday, May 9th. Finally, Jefferies Financial Group increased their price objective on shares of Palantir Technologies from $10.00 to $14.00 in a research report on Monday, June 5th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.54.
Insider Buying and Selling
In other Palantir Technologies news, Director Alexander D. Moore sold 21,900 shares of Palantir Technologies stock in a transaction on Monday, May 1st. The shares were sold at an average price of $7.74, for a total transaction of $169,506.00. Following the sale, the director now owns 1,858,152 shares in the company, valued at $14,382,096.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Alexander D. Moore sold 21,900 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $7.74, for a total value of $169,506.00. Following the sale, the director now owns 1,858,152 shares in the company, valued at approximately $14,382,096.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,595 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $16.38, for a total transaction of $58,886.10. Following the completion of the sale, the director now owns 68,669 shares in the company, valued at approximately $1,124,798.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,922,523 shares of company stock valued at $27,113,243. 13.96% of the stock is owned by company insiders.
Palantir Technologies Profile
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.
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