Ballentine Partners LLC Acquires Shares of 9,971 Palantir Technologies Inc. (NYSE:PLTR)

Ballentine Partners LLC acquired a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,971 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares during the last quarter. Morgan Stanley increased its holdings in shares of Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after buying an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Palantir Technologies by 8.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock worth $216,183,000 after buying an additional 955,992 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of Palantir Technologies by 16.1% during the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after buying an additional 1,514,232 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its holdings in shares of Palantir Technologies by 11.5% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 8,249,083 shares of the company’s stock worth $141,554,000 after buying an additional 850,687 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PLTR shares. Bank of America raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Wedbush restated an “outperform” rating and set a $35.00 price target on shares of Palantir Technologies in a report on Monday, May 6th. Royal Bank of Canada raised their price target on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, May 7th. Monness Crespi & Hardt cut shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a research report on Friday, June 21st. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.25.

Palantir Technologies Trading Down 1.9 %

Shares of PLTR opened at $24.10 on Thursday. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $27.50. The firm’s fifty day simple moving average is $22.45 and its 200-day simple moving average is $21.41. The firm has a market capitalization of $53.66 billion, a price-to-earnings ratio of 200.81, a PEG ratio of 5.67 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. On average, analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the sale, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter Thiel sold 5,000,000 shares of Palantir Technologies stock in a transaction on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the transaction, the director now owns 15,733,625 shares in the company, valued at $326,944,727.50. The disclosure for this sale can be found here. Insiders have sold 11,377,153 shares of company stock worth $240,054,945 in the last ninety days. 12.93% of the stock is owned by corporate insiders.

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.