MRP Capital Investments LLC Grows Holdings in Palantir Technologies Inc. (NYSE:PLTR)

MRP Capital Investments LLC increased its stake in Palantir Technologies Inc. (NYSE:PLTR) by 55.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,075 shares of the company’s stock after buying an additional 16,125 shares during the period. MRP Capital Investments LLC’s holdings in Palantir Technologies were worth $1,142,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new position in Palantir Technologies during the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies during the second quarter worth about $25,000. West Paces Advisors Inc. grew its stake in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the last quarter. Finally, Bogart Wealth LLC raised its stake in Palantir Technologies by 332.8% during the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after buying an additional 1,065 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $36.40 on Thursday. The business’s 50-day simple moving average is $30.20 and its 200-day simple moving average is $25.74. The firm has a market cap of $81.06 billion, a price-to-earnings ratio of 303.33, a P/E/G ratio of 6.16 and a beta of 2.72. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $37.11.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period last year, the business earned $0.01 earnings per share. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on PLTR shares. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. DA Davidson raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Bank of America boosted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Jefferies Financial Group upped their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group lifted their target price on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.79.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the sale, the insider now owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the transaction, the director now owns 152,280 shares in the company, valued at approximately $5,535,378. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares in the company, valued at approximately $8,749,632.32. The disclosure for this sale can be found here. In the last three months, insiders sold 5,383,238 shares of company stock valued at $190,231,672. Company insiders own 12.93% of the company’s stock.

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.