Bridgefront Capital LLC Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

Bridgefront Capital LLC purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR – Get Rating) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,955 shares of the company’s stock, valued at approximately $170,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PLTR. AlphaCrest Capital Management LLC purchased a new stake in Palantir Technologies during the first quarter worth about $206,000. D.A. Davidson & CO. grew its position in shares of Palantir Technologies by 18.6% during the first quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock worth $200,000 after buying an additional 2,286 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Palantir Technologies during the first quarter worth about $1,475,000. Cibc World Market Inc. grew its position in shares of Palantir Technologies by 38.3% during the first quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock worth $3,114,000 after buying an additional 62,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Palantir Technologies by 71.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock worth $15,832,000 after buying an additional 482,171 shares in the last quarter. 31.90% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $7.88 on Friday. Palantir Technologies Inc. has a 12 month low of $5.84 and a 12 month high of $14.86. The business has a 50 day simple moving average of $7.87 and a 200-day simple moving average of $7.64. The stock has a market capitalization of $16.56 billion, a PE ratio of -41.47, a price-to-earnings-growth ratio of 2.99 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR – Get Rating) last released its quarterly earnings results on Monday, February 13th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. Palantir Technologies had a negative return on equity of 11.90% and a negative net margin of 19.61%. The business had revenue of $508.62 million during the quarter, compared to analysts’ expectations of $504.84 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLTR. DA Davidson began coverage on Palantir Technologies in a research report on Tuesday, February 28th. They set a “neutral” rating and a $8.00 price objective for the company. The Goldman Sachs Group lowered their price objective on Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, February 14th. Royal Bank of Canada reissued an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research report on Thursday, February 23rd. Citigroup reaffirmed a “sell” rating and issued a $5.00 price target on shares of Palantir Technologies in a report on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Palantir Technologies from $7.00 to $6.00 and set a “sell” rating for the company in a report on Monday, January 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $9.64.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 153,049 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $10.07, for a total value of $1,541,203.43. Following the completion of the transaction, the insider now owns 281,526 shares in the company, valued at $2,834,966.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,000 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $6.38, for a total value of $44,660.00. Following the completion of the transaction, the director now owns 213,830 shares in the company, valued at $1,364,235.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 153,049 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $10.07, for a total value of $1,541,203.43. Following the completion of the sale, the insider now directly owns 281,526 shares in the company, valued at approximately $2,834,966.82. The disclosure for this sale can be found here. Insiders sold 191,562 shares of company stock worth $1,842,051 over the last 90 days. 13.71% of the stock is currently owned by insiders.

Palantir Technologies Company Profile

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.