RPG Investment Advisory LLC Raises Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

RPG Investment Advisory LLC grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 37.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 431,412 shares of the company’s stock after acquiring an additional 116,601 shares during the quarter. Palantir Technologies comprises approximately 1.6% of RPG Investment Advisory LLC’s holdings, making the stock its 27th largest holding. RPG Investment Advisory LLC’s holdings in Palantir Technologies were worth $10,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Andra AP fonden increased its position in shares of Palantir Technologies by 122.0% during the 2nd quarter. Andra AP fonden now owns 286,400 shares of the company’s stock valued at $7,255,000 after purchasing an additional 157,400 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in Palantir Technologies by 6.9% during the second quarter. Royal London Asset Management Ltd. now owns 811,354 shares of the company’s stock worth $20,552,000 after buying an additional 52,284 shares during the period. LGT Fund Management Co Ltd. bought a new position in Palantir Technologies during the second quarter valued at $355,000. Choreo LLC raised its stake in shares of Palantir Technologies by 318.2% in the second quarter. Choreo LLC now owns 37,635 shares of the company’s stock valued at $973,000 after acquiring an additional 28,635 shares during the period. Finally, Wedbush Securities Inc. lifted its holdings in shares of Palantir Technologies by 13.4% in the 2nd quarter. Wedbush Securities Inc. now owns 210,875 shares of the company’s stock worth $5,341,000 after acquiring an additional 24,952 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PLTR shares. The Goldman Sachs Group raised their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Citigroup lifted their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Argus began coverage on shares of Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target on the stock. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Raymond James boosted their price objective on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. 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 company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $34.59 on Tuesday. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $34.70. The firm has a market capitalization of $77.03 billion, a price-to-earnings ratio of 288.25, a PEG ratio of 5.35 and a beta of 2.72. The stock’s 50-day simple moving average is $28.98 and its 200-day simple moving average is $25.19.

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

Insiders Place Their Bets

In related news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the transaction, the director now owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the sale, the insider now owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the transaction, the director now directly owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 701,649 shares of company stock valued at $21,526,716. 12.93% of the stock is owned by insiders.

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.