Seven Eight Capital LP Invests $351,000 in Palantir Technologies Inc. (NYSE:PLTR)

Seven Eight Capital LP acquired a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,849 shares of the company’s stock, valued at approximately $351,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vantage Financial Partners LLC increased 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 purchasing an additional 10,124 shares during the period. Dimensional Fund Advisors LP increased 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 valued at $44,091,000 after acquiring an additional 228,428 shares during the period. Norges Bank acquired a new position in Palantir Technologies in the 4th quarter valued at approximately $46,542,000. PNC Financial Services Group Inc. lifted its position in shares of Palantir Technologies by 11.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock worth $980,000 after acquiring an additional 5,759 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Palantir Technologies by 18.5% during the 4th quarter. Wells Fargo & Company MN now owns 3,200,037 shares of the company’s stock worth $54,945,000 after purchasing an additional 498,957 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

PLTR stock opened at $37.20 on Monday. The stock has a market capitalization of $83.31 billion, a price-to-earnings ratio of 310.03 and a beta of 2.72. The business has a fifty day moving average price of $30.57 and a 200 day moving average price of $25.92. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $37.35.

Palantir Technologies (NYSE:PLTR) last announced 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 business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the business 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 fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’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 transaction, the director now owns 65,989 shares in the company, valued at approximately $1,744,089.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of Palantir Technologies stock in a transaction dated Thursday, August 1st. The stock was 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 directly owns 65,989 shares in the company, valued at $1,744,089.27. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $24,352,627.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,383,238 shares of company stock worth $190,231,672. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLTR. DA Davidson upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of Palantir Technologies in a research report on Monday, September 9th. Finally, Monness Crespi & Hardt decreased their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Five 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.com, Palantir Technologies presently has an average rating of “Hold” and a consensus target price 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.