Mesirow Financial Investment Management Inc. Takes $242,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

Mesirow Financial Investment Management Inc. bought a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,558 shares of the company’s stock, valued at approximately $242,000.

Several other institutional investors have also modified their holdings of PLTR. Vanguard Group Inc. boosted its position in 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 acquiring an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after acquiring an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC boosted its position in Palantir Technologies by 2.2% during the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in Palantir Technologies by 19.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after acquiring an additional 1,580,548 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Palantir Technologies by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock worth $185,575,000 after acquiring an additional 292,885 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $36.48 on Wednesday. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $37.05. The company’s 50 day simple moving average is $30.04 and its 200-day simple moving average is $25.66. The company has a market capitalization of $81.70 billion, a price-to-earnings ratio of 304.03, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its earnings results 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 business had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same period in the previous year, the company earned $0.01 earnings per share. Palantir Technologies’s quarterly revenue was up 27.2% on a year-over-year basis. Equities analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the sale, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the transaction, the director now owns 69,039 shares in the company, valued at approximately $2,000,059.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 29,817 shares of the company’s stock, valued at approximately $834,876. The disclosure for this sale can be found here. Insiders have sold a total of 5,377,238 shares of company stock valued at $190,013,572 in the last ninety days. Company insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. DA Davidson lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. 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 research note on Tuesday, August 6th. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, July 16th. Finally, Northland Securities initiated coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price on the stock. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.79.

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.