Palantir Technologies Inc. (NYSE:PLTR) Shares Acquired by Seven Eight Capital LP

Seven Eight Capital LP grew its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 57.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,816 shares of the company’s stock after acquiring an additional 51,559 shares during the period. Seven Eight Capital LP’s holdings in Palantir Technologies were worth $1,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 22.4% in the first quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock worth $2,141,931,000 after acquiring an additional 28,563,749 shares in the last quarter. BlackRock Inc. grew its stake in shares of Palantir Technologies by 2.0% in the first quarter. BlackRock Inc. now owns 98,631,611 shares of the company’s stock worth $833,437,000 after acquiring an additional 1,937,114 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Palantir Technologies by 29.8% in the fourth quarter. Renaissance Technologies LLC now owns 43,000,160 shares of the company’s stock worth $276,061,000 after acquiring an additional 9,870,113 shares in the last quarter. State Street Corp grew its stake in shares of Palantir Technologies by 1.9% in the third quarter. State Street Corp now owns 34,876,691 shares of the company’s stock worth $283,547,000 after acquiring an additional 659,192 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 22,964,828 shares of the company’s stock worth $147,263,000 after purchasing an additional 1,110,676 shares during the last quarter. Institutional investors and hedge funds own 34.21% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR opened at $15.13 on Friday. The company has a 50-day simple moving average of $16.15 and a 200-day simple moving average of $12.42. Palantir Technologies Inc. has a one year low of $5.84 and a one year high of $20.24. The stock has a market capitalization of $32.56 billion, a price-to-earnings ratio of -504.33, a PEG ratio of 3.82 and a beta of 2.80.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Palantir Technologies had a negative net margin of 2.35% and a negative return on equity of 4.37%. The business had revenue of $533.32 million for the quarter, compared to analyst estimates of $533.88 million. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.07 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 3,595 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $16.38, for a total transaction of $58,886.10. Following the transaction, the director now directly owns 68,669 shares in the company, valued at $1,124,798.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Palantir Technologies news, insider Stephen Andrew Cohen sold 196,888 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $14.55, for a total transaction of $2,864,720.40. Following the transaction, the insider now directly owns 592 shares in the company, valued at $8,613.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 3,595 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $16.38, for a total transaction of $58,886.10. Following the transaction, the director now owns 68,669 shares in the company, valued at $1,124,798.22. The disclosure for this sale can be found here. Insiders have sold a total of 2,613,619 shares of company stock worth $49,216,461 over the last ninety days. 13.96% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PLTR shares. Raymond James lifted their price objective on shares of Palantir Technologies from $18.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 8th. Jefferies Financial Group lifted their price objective on shares of Palantir Technologies from $10.00 to $14.00 in a research report on Monday, June 5th. Citigroup lifted their price objective on shares of Palantir Technologies from $6.00 to $10.00 and gave the stock a “sell” rating in a research report on Monday, August 7th. Morgan Stanley cut shares of Palantir Technologies from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $8.00 to $9.00 in a research report on Thursday, August 31st. Finally, Mizuho boosted their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, August 8th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price of $13.04.

About Palantir Technologies

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.