Novare Capital Management LLC Acquires New Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Novare Capital Management LLC purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,265 shares of the company’s stock, valued at approximately $336,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after buying an additional 6,466,596 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Palantir Technologies by 248,208.2% in the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after acquiring an additional 3,623,840 shares during the period. Norges Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $46,542,000. Coatue Management LLC boosted its holdings in shares of Palantir Technologies by 285.6% in the fourth quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock valued at $59,191,000 after acquiring an additional 2,553,432 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Palantir Technologies by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after acquiring an additional 1,980,495 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexander D. Moore sold 20,422 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $22.94, for a total value of $468,480.68. Following the transaction, the director now directly owns 1,587,707 shares of the company’s stock, valued at approximately $36,421,998.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Alexander D. Moore sold 20,422 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $22.94, for a total value of $468,480.68. Following the completion of the sale, the director now directly owns 1,587,707 shares in the company, valued at approximately $36,421,998.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. The disclosure for this sale can be found here. Insiders have sold a total of 728,664 shares of company stock valued at $21,997,409 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLTR. Argus began coverage on Palantir Technologies in a report on Monday, June 17th. They set a “buy” rating and a $29.00 price target for the company. Citigroup increased their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft increased their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Finally, Jefferies Financial Group increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $25.00.

Palantir Technologies Price Performance

NYSE PLTR opened at $30.51 on Wednesday. The firm has a market capitalization of $68.31 billion, a P/E ratio of 254.23, a P/E/G ratio of 5.55 and a beta of 2.71. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $33.13. The business’s 50-day simple moving average is $28.48 and its 200-day simple moving average is $24.96.

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

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.