BluePath Capital Management LLC Buys 5,794 Shares of Palantir Technologies Inc. (NYSE:PLTR)

BluePath Capital Management LLC grew its stake in Palantir Technologies Inc. (NYSE:PLTR) by 34.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,575 shares of the company’s stock after purchasing an additional 5,794 shares during the period. BluePath Capital Management LLC’s holdings in Palantir Technologies were worth $519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Federated Hermes Inc. purchased a new position in shares of Palantir Technologies during the third quarter valued at approximately $83,000. O Shaughnessy Asset Management LLC increased its stake in Palantir Technologies by 111.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 28,180 shares of the company’s stock worth $451,000 after purchasing an additional 14,843 shares during the period. Bank of Nova Scotia boosted its stake in shares of Palantir Technologies by 13.3% during the third quarter. Bank of Nova Scotia now owns 39,045 shares of the company’s stock valued at $625,000 after purchasing an additional 4,595 shares during the period. Teza Capital Management LLC grew its holdings in shares of Palantir Technologies by 200.3% in the third quarter. Teza Capital Management LLC now owns 47,609 shares of the company’s stock worth $762,000 after purchasing an additional 31,757 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in Palantir Technologies by 76,089.5% in the 3rd quarter. Lazard Asset Management LLC now owns 43,428 shares of the company’s stock worth $694,000 after buying an additional 43,371 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the sale, the director now owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Peter Thiel sold 5,000,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the sale, the director now directly owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. Insiders have sold a total of 11,372,153 shares of company stock worth $239,941,245 over the last ninety days. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

PLTR stock remained flat at $25.83 during midday trading on Wednesday. 18,433,843 shares of the company’s stock traded hands, compared to its average volume of 56,112,723. The firm has a 50-day moving average of $22.81 and a 200-day moving average of $21.65. The company has a market cap of $57.52 billion, a price-to-earnings ratio of 218.52, a P/E/G ratio of 5.85 and a beta of 2.71. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $27.50.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. On average, research analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLTR. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Monness Crespi & Hardt lowered Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a report on Friday, June 21st. Royal Bank of Canada upped their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 7th. Mizuho boosted their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Finally, Citigroup raised their price target on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $21.25.

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.