Fairscale Capital LLC Buys Shares of 7,606 Palantir Technologies Inc. (NYSE:PLTR)

Fairscale Capital LLC acquired a new position in Palantir Technologies Inc. (NYSE:PLTR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,606 shares of the company’s stock, valued at approximately $193,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Evolution Wealth Advisors LLC grew its stake in Palantir Technologies by 0.5% in the second quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock worth $1,853,000 after purchasing an additional 360 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Palantir Technologies by 2.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after acquiring an additional 379 shares in the last quarter. Gradient Investments LLC boosted its position in Palantir Technologies by 21.4% during the 2nd quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock valued at $58,000 after acquiring an additional 406 shares in the last quarter. Apella Capital LLC boosted its position in Palantir Technologies by 3.7% during the 2nd quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock valued at $323,000 after acquiring an additional 416 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in Palantir Technologies by 1.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock valued at $916,000 after acquiring an additional 416 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PLTR. Argus began coverage on Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of Palantir Technologies in a report on Monday, September 9th. Jefferies Financial Group raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Northland Securities initiated coverage on Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 target price for the company. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.79.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated 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 directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated 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 directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the sale, the director now owns 29,817 shares in the company, valued at $834,876. The disclosure for this sale can be found here. In the last three months, 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 Stock Up 1.0 %

NYSE:PLTR opened at $37.20 on Friday. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $37.35. The stock has a market capitalization of $83.31 billion, a PE ratio of 310.03 and a beta of 2.72. The stock’s 50-day moving average price is $30.57 and its 200-day moving average price is $25.90.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter last year, the business earned $0.01 earnings per share. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. Sell-side analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

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.