Kayne Anderson Rudnick Investment Management LLC Invests $51,000 in Palantir Technologies Inc. (NYSE:PLTR)

Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 2,014 shares of the company’s stock, valued at approximately $51,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLTR. Vantage Financial Partners LLC raised its stake in Palantir Technologies by 20.2% during the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock worth $1,032,000 after acquiring an additional 10,124 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Palantir Technologies by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock worth $44,091,000 after purchasing an additional 228,428 shares in the last quarter. Norges Bank bought a new position in Palantir Technologies during the 4th quarter valued at about $46,542,000. PNC Financial Services Group Inc. boosted its position in Palantir Technologies by 11.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock valued at $980,000 after buying an additional 5,759 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in Palantir Technologies by 7.6% during the fourth quarter. Corient Private Wealth LLC now owns 160,088 shares of the company’s stock worth $2,749,000 after buying an additional 11,284 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated 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 transaction, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the sale, the director now directly owns 152,280 shares in the company, valued at $5,535,378. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $232,011,546.06. The disclosure for this sale can be found here. Insiders sold a total of 5,383,238 shares of company stock worth $190,231,672 in the last quarter. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PLTR shares. Jefferies Financial Group lifted 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. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday. Argus initiated coverage on Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 target price for the company. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.79.

Palantir Technologies Trading Down 2.7 %

Shares of PLTR opened at $36.92 on Wednesday. The stock has a market cap of $82.22 billion, a P/E ratio of 307.67 and a beta of 2.72. Palantir Technologies Inc. has a 1 year low of $13.82 and a 1 year high of $38.19. The stock’s 50-day moving average price is $30.76 and its two-hundred day moving average price is $26.00.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share 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 for the quarter, compared to the consensus estimate of $653.23 million. During the same period in the previous year, the business earned $0.01 EPS. The firm’s revenue was up 27.2% compared to the same quarter last year. As a group, equities analysts forecast 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.