Central Asset Investments & Management Holdings HK Ltd Purchases Shares of 10,000 Palantir Technologies Inc. (NYSE:PLTR)

Central Asset Investments & Management Holdings HK Ltd acquired a new position in Palantir Technologies Inc. (NYSE:PLTR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $253,000.

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

Palantir Technologies Price Performance

PLTR stock opened at $36.48 on Wednesday. Palantir Technologies Inc. has a 1 year low of $13.68 and a 1 year high of $37.05. The firm has a 50-day moving average of $30.04 and a 200 day moving average of $25.66. The company has a market cap of $81.70 billion, a P/E ratio of 304.03, a PEG ratio of 6.16 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its 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). 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 in the prior year, the company posted $0.01 EPS. The firm’s revenue was up 27.2% on a year-over-year basis. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on PLTR shares. Argus began coverage on Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 price objective on the stock. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. 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. Mizuho lowered shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their price target for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Finally, Raymond James raised their price target on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.79.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 90,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,377,238 shares of company stock worth $190,013,572. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies 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.