Gladstone Institutional Advisory LLC Boosts Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Gladstone Institutional Advisory LLC raised its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 621.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,929 shares of the company’s stock after buying an additional 79,182 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Palantir Technologies were worth $3,420,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 1.6% in 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 period. ARK Investment Management LLC boosted its stake in shares of Palantir Technologies by 2.2% in 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 period. Legal & General Group Plc boosted its stake in shares of Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after acquiring an additional 167,030 shares during the period. Nikko Asset Management Americas Inc. lifted its position in shares of Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after buying an additional 1,580,548 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Palantir Technologies by 4.2% in 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 buying an additional 292,885 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the transaction, the director now owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. 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 the SEC website. In other news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the transaction, the director now directly owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the transaction, the insider now owns 372,565 shares in the company, valued at $11,180,675.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,204,508 shares of company stock valued at $802,654,666 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. 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. Bank of America upped their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Northland Securities assumed coverage on Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective on the stock. DA Davidson upped their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Finally, 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 report on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $27.86.

Palantir Technologies Stock Up 0.9 %

Shares of NYSE:PLTR opened at $41.94 on Friday. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $45.14. The stock has a market cap of $93.92 billion, a P/E ratio of 246.72 and a beta of 2.72. The business’s 50 day moving average is $37.98 and its 200 day moving average is $29.50.

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. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

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.