University of Texas Texas AM Investment Management Co. Buys Shares of 1,181 Palantir Technologies Inc. (NYSE:PLTR)

University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,181 shares of the company’s stock, valued at approximately $30,000.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares during the period. SG Americas Securities LLC raised its stake in shares of Palantir Technologies by 183.3% in the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after purchasing an additional 102,479 shares in the last quarter. Accel Wealth Management acquired a new stake in Palantir Technologies during the first quarter worth $360,000. ProShare Advisors LLC acquired a new stake in Palantir Technologies during the first quarter worth $262,000. Finally, OneAscent Wealth Management LLC bought a new stake in Palantir Technologies in the 1st quarter valued at $210,000. 45.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. DA Davidson lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Wedbush lifted their price objective on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $27.29.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction 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 approximately $24,352,627.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. The disclosure for this sale can be found here. Insiders sold a total of 17,814,881 shares of company stock valued at $648,616,023 over the last ninety days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $37.51 on Thursday. The firm has a 50 day simple moving average of $31.98 and a 200 day simple moving average of $26.59. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $38.19. The firm has a market cap of $84.00 billion, a P/E ratio of 312.61 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 EPS. On average, sell-side analysts expect 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.