Hsbc Holdings PLC Purchases 83,670 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Hsbc Holdings PLC lifted its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,158,225 shares of the company’s stock after acquiring an additional 83,670 shares during the period. Hsbc Holdings PLC owned approximately 0.05% of Palantir Technologies worth $29,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vantage Financial Partners LLC boosted its holdings in shares of Palantir Technologies by 20.2% during the 4th quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock worth $1,032,000 after buying an additional 10,124 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Palantir Technologies by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock worth $44,091,000 after acquiring an additional 228,428 shares in the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the fourth quarter worth $46,542,000. PNC Financial Services Group Inc. increased its stake in Palantir Technologies by 11.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock valued at $980,000 after purchasing an additional 5,759 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Palantir Technologies by 18.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,200,037 shares of the company’s stock valued at $54,945,000 after purchasing an additional 498,957 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PLTR shares. Bank of America upped their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Raymond James lifted their price target on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Argus assumed coverage on shares of Palantir Technologies in a report on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Finally, Monness Crespi & Hardt decreased their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.79.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 90,000 shares of the firm’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 completion of the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction dated 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 completion of the transaction, the insider now owns 298,012 shares in the company, valued at $8,749,632.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 transaction of $80,611.50. Following the sale, the director now owns 65,989 shares in the company, valued at $1,744,089.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,383,238 shares of company stock worth $190,231,672. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $37.20 on Friday. The stock has a fifty day moving average price of $30.57 and a 200-day moving average price of $25.90. The firm has a market cap of $83.31 billion, a PE ratio of 310.03 and a beta of 2.72. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $37.35.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data 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 the consensus estimate of $653.23 million. During the same period in the prior year, the firm posted $0.01 EPS. The business’s revenue was up 27.2% on a year-over-year basis. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

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.