Dock Street Asset Management Inc. Acquires 189,189 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Dock Street Asset Management Inc. grew its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 23.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 998,953 shares of the company’s stock after purchasing an additional 189,189 shares during the quarter. Palantir Technologies accounts for approximately 5.0% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Dock Street Asset Management Inc.’s holdings in Palantir Technologies were worth $37,161,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies during the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the third quarter worth about $25,000. West Paces Advisors Inc. boosted its holdings in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the second quarter worth about $30,000. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the sale, the director now owns 65,989 shares of the company’s stock, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the transaction, the director now owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,747,176 shares of company stock worth $646,951,347 in the last three months. 12.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Monness Crespi & Hardt cut their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Mizuho boosted their target price on shares of Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Citigroup boosted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.86.

Palantir Technologies Stock Up 0.8 %

Shares of Palantir Technologies stock traded up $0.35 during trading on Tuesday, reaching $43.05. The company’s stock had a trading volume of 14,535,191 shares, compared to its average volume of 56,746,996. Palantir Technologies Inc. has a 52-week low of $14.48 and a 52-week high of $44.39. The company has a market cap of $95.87 billion, a price-to-earnings ratio of 357.00 and a beta of 2.72. The firm’s 50-day moving average is $35.87 and its two-hundred day moving average is $28.28.

Palantir Technologies (NYSE:PLTR) last issued 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 during the quarter, compared to the consensus estimate of $653.23 million. During the same quarter last year, the company posted $0.01 earnings per share. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

About Palantir Technologies

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.