Burney Co. Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

Burney Co. acquired a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,825 shares of the company’s stock, valued at approximately $226,000.

A number of other hedge funds have also recently made changes to their positions in the business. Pursue Wealth Partners LLC purchased a new position in Palantir Technologies during the 4th quarter valued at approximately $1,741,000. Vanguard Group Inc. boosted its position in shares of Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares during the last quarter. SG Americas Securities LLC increased its position in Palantir Technologies by 183.3% in the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after purchasing an additional 102,479 shares during the last quarter. Accel Wealth Management purchased a new stake in Palantir Technologies during the first quarter valued at $360,000. Finally, Panagora Asset Management Inc. lifted its position in Palantir Technologies by 185.6% during the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock valued at $1,317,000 after purchasing an additional 49,839 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLTR. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their target price for the company from $21.00 to $22.00 in a research report on Tuesday, July 16th. Citigroup raised their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. HSBC upped their price target on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Argus assumed coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Royal Bank of Canada upped their target price on Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research note on Tuesday, May 7th. Seven equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $21.96.

Palantir Technologies Trading Down 5.1 %

NYSE:PLTR opened at $24.74 on Friday. The company’s 50 day moving average is $25.37 and its two-hundred day moving average is $23.28. The company has a market cap of $55.09 billion, a PE ratio of 206.17, a P/E/G ratio of 6.02 and a beta of 2.71. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $29.83.

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

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 90,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the sale, the insider now owns 298,012 shares in the company, valued at $8,749,632.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the transaction, the insider now directly owns 298,012 shares in the company, valued at approximately $8,749,632.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 69,039 shares in the company, valued at approximately $2,000,059.83. The disclosure for this sale can be found here. Insiders sold 11,447,179 shares of company stock worth $242,285,913 over the last three months. Company 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.