Morse Asset Management Inc Invests $1.99 Million in Palantir Technologies Inc. (NYSE:PLTR)

Morse Asset Management Inc bought a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 78,355 shares of the company’s stock, valued at approximately $1,985,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after purchasing an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after buying an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC boosted its stake in Palantir Technologies by 2.2% during the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after buying an additional 277,623 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Palantir Technologies by 19.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after buying an additional 1,580,548 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Palantir Technologies by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after buying an additional 292,885 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 1.0 %

Shares of NYSE PLTR opened at $37.20 on Monday. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $37.35. The firm’s 50-day simple moving average is $30.57 and its 200 day simple moving average is $25.92. The company has a market cap of $83.31 billion, a price-to-earnings ratio of 310.03 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its earnings results 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). The company 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%. Palantir Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 earnings per share. On average, equities analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PLTR shares. Wedbush reiterated an “outperform” rating and set a $38.00 target price on shares of Palantir Technologies in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Monness Crespi & Hardt dropped their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.79.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was 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 owns 69,039 shares in the company, valued at $2,000,059.83. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s 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 transaction, the director now directly owns 69,039 shares in the company, valued at $2,000,059.83. The disclosure for this sale can be found here. In the last ninety days, 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 Company 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.