Thoroughbred Financial Services LLC Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

Thoroughbred Financial Services LLC bought a new position in Palantir Technologies Inc. (NYSE:PLTR) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 11,456 shares of the company’s stock, valued at approximately $290,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in Palantir Technologies during the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at $25,000. West Paces Advisors Inc. raised its position in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares during the last quarter. Finally, Bogart Wealth LLC lifted its stake in shares of Palantir Technologies by 332.8% during the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after purchasing an additional 1,065 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 90,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the sale, the insider now owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Palantir Technologies news, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now owns 65,989 shares of the company’s stock, valued at $1,744,089.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,377,238 shares of company stock valued at $190,013,572. 12.93% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on PLTR. Mizuho cut shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their target price for the company from $21.00 to $22.00 in a research report on Tuesday, July 16th. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Raymond James upped their target price on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Citigroup raised their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.79.

Palantir Technologies Trading Up 0.5 %

NYSE PLTR opened at $36.48 on Wednesday. The stock has a market capitalization of $81.70 billion, a price-to-earnings ratio of 304.03, a PEG ratio of 6.16 and a beta of 2.72. The stock has a 50-day moving average of $30.04 and a 200 day moving average of $25.66. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $37.05.

Palantir Technologies (NYSE:PLTR) last issued 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). 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 during the quarter, compared to analysts’ expectations of $653.23 million. During the same period in the previous year, the firm posted $0.01 EPS. Palantir Technologies’s revenue was up 27.2% compared to the same quarter last year. Equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

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.