Allen Holding Inc. NY Increases Position in Palantir Technologies Inc. (NYSE:PLTR)

Allen Holding Inc. NY increased its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 9.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000,000 shares of the company’s stock after acquiring an additional 250,000 shares during the quarter. Palantir Technologies comprises about 9.6% of Allen Holding Inc. NY’s investment portfolio, making the stock its 3rd biggest holding. Allen Holding Inc. NY owned about 0.13% of Palantir Technologies worth $75,990,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Evolution Wealth Advisors LLC grew its position in Palantir Technologies by 0.5% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after purchasing an additional 360 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Palantir Technologies by 2.6% during the second quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after buying an additional 379 shares during the last quarter. Gradient Investments LLC increased its position in shares of Palantir Technologies by 21.4% during the second quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock valued at $58,000 after acquiring an additional 406 shares in the last quarter. Apella Capital LLC raised its holdings in Palantir Technologies by 3.7% in the 2nd quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock worth $323,000 after acquiring an additional 416 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in Palantir Technologies by 1.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock worth $916,000 after acquiring an additional 416 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the sale, the director now owns 32,843 shares in the company, valued at $853,918. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the sale, the director now directly owns 32,843 shares of the company’s stock, valued at approximately $853,918. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the company’s stock in a transaction on 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 owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 880,238 shares of company stock valued at $27,776,572. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $35.59 on Friday. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $36.01. The firm’s 50 day simple moving average is $29.69 and its two-hundred day simple moving average is $25.49. The company has a market capitalization of $79.26 billion, a P/E ratio of 296.58, a P/E/G ratio of 6.15 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 the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to the consensus estimate 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 for the quarter was up 27.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Argus began coverage on shares of Palantir Technologies in a report on Monday, June 17th. They set a “buy” rating and a $29.00 price target on the stock. DA Davidson raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Finally, Jefferies Financial Group lifted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five equities 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.