Strategic Blueprint LLC Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

Strategic Blueprint LLC acquired a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,658 shares of the company’s stock, valued at approximately $322,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after buying an additional 3,029,317 shares during the period. ARK Investment Management LLC raised its holdings in shares of Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after acquiring an additional 277,623 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Palantir Technologies by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after acquiring an additional 167,030 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Palantir Technologies by 19.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after purchasing an additional 1,580,548 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Palantir Technologies by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock worth $185,575,000 after purchasing an additional 292,885 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 0.9 %

Shares of PLTR stock opened at $41.94 on Friday. The stock has a market capitalization of $93.92 billion, a P/E ratio of 246.72 and a beta of 2.72. The firm’s 50 day moving average is $37.98 and its 200 day moving average is $29.50. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $45.14.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 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 previous year, the firm earned $0.01 EPS. The business’s revenue was up 27.2% on a year-over-year basis. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In related news, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,204,508 shares of company stock valued at $802,654,666 in the last quarter. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Mizuho lifted their price target on Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Monness Crespi & Hardt dropped their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Finally, Wedbush increased their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $27.86.

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.