Elo Mutual Pension Insurance Co Increases Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Elo Mutual Pension Insurance Co grew its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 174,459 shares of the company’s stock after acquiring an additional 4,280 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Palantir Technologies were worth $4,419,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies in the 2nd quarter worth approximately $25,000. West Paces Advisors Inc. lifted its stake 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 purchasing an additional 620 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Palantir Technologies by 105.3% in 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 period. Finally, Bogart Wealth LLC lifted its stake in shares of Palantir Technologies by 332.8% in 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 period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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 that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the sale, the director now directly owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the transaction, the director now directly owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 of the company’s stock, valued at $232,011,546.06. The disclosure for this sale can be found here. Insiders sold a total of 5,383,238 shares of company stock valued at $190,231,672 in the last three months. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

Shares of PLTR opened at $36.40 on Thursday. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $37.11. The company has a 50 day simple moving average of $30.20 and a two-hundred day simple moving average of $25.74. The firm has a market cap of $81.06 billion, a P/E ratio of 303.33, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same period last year, the business earned $0.01 earnings per share. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

PLTR has been the topic of several recent research reports. Monness Crespi & Hardt lowered their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Bank of America increased their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Citigroup increased their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.79.

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.