Riversedge Advisors LLC Purchases 8,668 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Riversedge Advisors LLC boosted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 83.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,036 shares of the company’s stock after purchasing an additional 8,668 shares during the period. Riversedge Advisors LLC’s holdings in Palantir Technologies were worth $708,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PLTR. 1832 Asset Management L.P. grew its holdings in shares of Palantir Technologies by 248,208.2% during the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after purchasing an additional 3,623,840 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after buying an additional 3,038,861 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Palantir Technologies by 15.7% in the 1st 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 last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Palantir Technologies by 2,722.2% during the 2nd quarter. National Bank of Canada FI now owns 1,716,830 shares of the company’s stock valued at $44,427,000 after acquiring an additional 1,655,997 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

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 stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the transaction, the director now directly owns 65,989 shares of the company’s stock, valued at $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Heather A. Planishek sold 11,373 shares of Palantir Technologies stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $32.25, for a total transaction of $366,779.25. Following the completion of the sale, the insider now directly owns 600,633 shares of the company’s stock, valued at approximately $19,370,414.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,747,176 shares of company stock worth $646,951,347. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 0.5 %

NYSE PLTR traded down $0.19 during trading hours on Thursday, hitting $41.74. 20,196,883 shares of the company’s stock were exchanged, compared to its average volume of 57,131,121. The firm has a market cap of $92.95 billion, a price-to-earnings ratio of 348.50 and a beta of 2.72. The stock has a 50-day simple moving average of $35.09 and a 200 day simple moving average of $27.82. Palantir Technologies Inc. has a 1-year low of $14.48 and a 1-year high of $44.39.

Palantir Technologies (NYSE:PLTR) last announced 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 period last year, the business earned $0.01 EPS. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLTR has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Monness Crespi & Hardt reduced their target price 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. Bank of America upped their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.86.

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.