Edgestream Partners L.P. Takes $350,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

Edgestream Partners L.P. acquired a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,821 shares of the company’s stock, valued at approximately $350,000.

Several other large investors have also made changes to their positions in PLTR. Vantage Financial Partners LLC lifted its position in shares of Palantir Technologies by 20.2% in the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after acquiring an additional 10,124 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Palantir Technologies by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock worth $44,091,000 after buying an additional 228,428 shares in the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $46,542,000. PNC Financial Services Group Inc. lifted its position in shares of Palantir Technologies by 11.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock worth $980,000 after buying an additional 5,759 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Palantir Technologies by 18.5% in the fourth quarter. Wells Fargo & Company MN now owns 3,200,037 shares of the company’s stock worth $54,945,000 after buying an additional 498,957 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the transaction, the director now owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the sale, the director now directly owns 29,817 shares in the company, valued at approximately $834,876. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the sale, the director now directly owns 69,039 shares in the company, valued at approximately $2,000,059.83. The disclosure for this sale can be found here. Insiders have sold a total of 5,383,238 shares of company stock valued at $190,231,672 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PLTR has been the topic of a number of research analyst reports. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Argus initiated coverage on Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 target price on the stock. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Palantir Technologies in a research report on Monday, September 9th. Finally, Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their price objective for the stock from $21.00 to $22.00 in a research note on Tuesday, July 16th. Five equities 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.79.

Palantir Technologies Stock Performance

PLTR opened at $37.20 on Monday. The stock has a market cap of $83.31 billion, a price-to-earnings ratio of 310.03 and a beta of 2.72. The stock’s 50 day moving average price is $30.57 and its 200-day moving average price is $25.92. Palantir Technologies Inc. has a one year low of $13.68 and a one year high of $37.35.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (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 firm had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same period last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. As a group, analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Palantir Technologies 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.