Chicago Capital LLC Boosts Stake in Palantir Technologies Inc. (NYSE:PLTR)

Chicago Capital LLC grew its position in Palantir Technologies Inc. (NYSE:PLTR) by 19.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,650 shares of the company’s stock after buying an additional 13,134 shares during the period. Chicago Capital LLC’s holdings in Palantir Technologies were worth $2,043,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PLTR. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the second quarter valued at $25,000. First United Bank & Trust purchased a new stake in Palantir Technologies during the 4th quarter worth approximately $26,000. West Paces Advisors Inc. boosted its stake in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In related news, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the transaction, the insider now owns 298,012 shares in the company, valued at $8,749,632.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider David A. Glazer sold 90,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the transaction, the insider now owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the sale, the director now owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. The disclosure for this sale can be found here. Insiders sold 722,664 shares of company stock worth $22,008,889 in the last 90 days. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

NYSE PLTR traded up $0.17 during trading hours on Friday, hitting $30.33. The company had a trading volume of 50,946,777 shares, compared to its average volume of 54,189,438. The firm’s 50 day moving average is $28.81 and its 200 day moving average is $25.08. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $33.13. The company has a market capitalization of $67.54 billion, a price-to-earnings ratio of 252.92, a P/E/G ratio of 5.55 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results 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). The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price target on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Raymond James raised their target price on Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft raised their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Finally, Northland Securities assumed coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target for the company. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned 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 $25.00.

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.