43,039 Shares in Palantir Technologies Inc. (NYSE:PLTR) Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board bought a new position in Palantir Technologies Inc. (NYSE:PLTR) in the 1st quarter, Holdings Channel reports. The fund bought 43,039 shares of the company’s stock, valued at approximately $990,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after buying an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC grew its holdings in Palantir Technologies by 16.1% during the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after buying an additional 1,514,232 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Palantir Technologies by 19.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after buying an additional 1,580,548 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,063,645 shares of the company’s stock valued at $121,283,000 after buying an additional 403,905 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the sale, the director now directly owns 69,039 shares in the company, valued at $2,000,059.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the sale, the director now directly owns 69,039 shares in the company, valued at $2,000,059.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 2,398 shares of Palantir Technologies stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the sale, the insider now owns 639,696 shares of the company’s stock, valued at $13,625,524.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,377,179 shares of company stock worth $240,083,913. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

Shares of NYSE:PLTR traded down $0.12 on Monday, hitting $28.46. 37,937,348 shares of the company’s stock were exchanged, compared to its average volume of 55,677,113. Palantir Technologies Inc. has a 12 month low of $13.68 and a 12 month high of $29.83. The stock has a market capitalization of $63.38 billion, a price-to-earnings ratio of 236.85, a price-to-earnings-growth ratio of 6.60 and a beta of 2.71. The business’s 50 day simple moving average is $24.25 and its two-hundred day simple moving average is $22.60.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The business had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. Equities analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. DA Davidson increased their price objective on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Argus assumed coverage on shares of Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $35.00 target price on shares of Palantir Technologies in a report on Monday, May 6th. Mizuho lowered shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their target price for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Finally, Monness Crespi & Hardt lowered shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price for the company. in a report on Friday, June 21st. Seven equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.32.

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.