Wellington Management Group LLP Acquires 751,034 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Wellington Management Group LLP grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 3,106.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 775,208 shares of the company’s stock after purchasing an additional 751,034 shares during the period. Wellington Management Group LLP’s holdings in Palantir Technologies were worth $28,838,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in Palantir Technologies in the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies during the 2nd quarter worth about $30,000. Finally, Ashburton Jersey Ltd bought a new position in shares of Palantir Technologies during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLTR. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Robert W. Baird initiated coverage on Palantir Technologies in a research report on Thursday. They issued a “neutral” rating and a $70.00 price objective for the company. Wedbush upped their target price on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, DA Davidson raised their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.93.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. The trade was a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,252,313 shares of company stock worth $1,967,089,241 over the last ninety days. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $73.20 on Friday. The stock has a 50 day moving average price of $55.02 and a 200 day moving average price of $38.01. The stock has a market capitalization of $166.75 billion, a price-to-earnings ratio of 366.00, a PEG ratio of 10.29 and a beta of 2.87. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $80.91.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the previous year, the firm earned $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

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.