AE Wealth Management LLC Buys 106,197 Shares of Palantir Technologies Inc. (NYSE:PLTR)

AE Wealth Management LLC boosted its stake in Palantir Technologies Inc. (NYSE:PLTR) by 59.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 283,961 shares of the company’s stock after buying an additional 106,197 shares during the quarter. AE Wealth Management LLC’s holdings in Palantir Technologies were worth $7,193,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PLTR. Vanguard Group Inc. raised its holdings in shares of Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Palantir Technologies by 15.7% during the 1st 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 shares of Palantir Technologies by 2.2% in the 2nd 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 during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after acquiring an additional 1,580,548 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Palantir Technologies by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after acquiring an additional 292,885 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLTR has been the topic of several research analyst reports. Raymond James boosted their price objective on Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report 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. Bank of America boosted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Monness Crespi & Hardt decreased their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Stock Up 1.0 %

Shares of NYSE PLTR opened at $37.20 on Friday. The company has a market cap of $83.31 billion, a P/E ratio of 310.03 and a beta of 2.72. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $37.35. The business has a 50-day simple moving average of $30.57 and a two-hundred day simple moving average of $25.90.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s 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. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity

In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now 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. In related news, insider Alexander C. Karp sold 4,500,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the sale, the director now owns 152,280 shares of the company’s stock, valued at $5,535,378. The disclosure for this sale can be found here. Insiders sold 5,383,238 shares of company stock worth $190,231,672 in the last three months. Corporate 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.