Palantir Technologies Inc. $PLTR Stake Raised by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 152.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,246 shares of the company’s stock after acquiring an additional 4,374 shares during the period. Wellington Shields Capital Management LLC’s holdings in Palantir Technologies were worth $988,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PLTR. Truist Financial Corp grew its position in Palantir Technologies by 4.2% in the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after purchasing an additional 21,809 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Palantir Technologies by 1.3% during the second quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock valued at $127,923,000 after buying an additional 12,300 shares during the last quarter. Presilium Private Wealth LLC bought a new stake in shares of Palantir Technologies in the second quarter valued at about $204,000. New Century Financial Group LLC acquired a new stake in Palantir Technologies during the second quarter worth about $228,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Palantir Technologies by 10.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company’s stock worth $984,786,000 after buying an additional 1,135,841 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America upped their price target on Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Citigroup upped their target price on Palantir Technologies from $177.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. UBS Group reaffirmed a “neutral” rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Finally, Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $142.00.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $200.47 on Monday. Palantir Technologies Inc. has a 52-week low of $40.90 and a 52-week high of $204.18. The business has a fifty day moving average of $174.75 and a two-hundred day moving average of $151.19. The stock has a market cap of $475.58 billion, a PE ratio of 668.26, a PEG ratio of 10.87 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $939.29 million. During the same quarter last year, the company posted $0.09 EPS. The firm’s revenue for the quarter was up 48.0% on a year-over-year basis. Analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In other news, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the sale, the insider owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total value of $4,786,500.00. Following the sale, the insider directly owned 702,786 shares of the company’s stock, valued at $112,129,506.30. This represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,557,750 shares of company stock valued at $239,713,896. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.