Montchanin Asset Management LLC Acquires Shares of 14,465 Palantir Technologies Inc. (NYSE:PLTR)

Montchanin Asset Management LLC bought a new position in Palantir Technologies Inc. (NYSE:PLTR) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,465 shares of the company’s stock, valued at approximately $333,000.

A number of other large investors have also recently made changes to their positions in the company. Halpern Financial Inc. grew its position in Palantir Technologies by 44.0% in the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after acquiring an additional 440 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Palantir Technologies by 16.9% in the first quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock worth $74,000 after purchasing an additional 463 shares during the last quarter. Principle Wealth Partners LLC increased its stake in Palantir Technologies by 4.8% in the 1st quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock worth $241,000 after buying an additional 481 shares during the period. GSB Wealth Management LLC lifted its holdings in Palantir Technologies by 4.6% during the 1st quarter. GSB Wealth Management LLC now owns 13,475 shares of the company’s stock valued at $310,000 after buying an additional 595 shares in the last quarter. Finally, West Paces Advisors Inc. boosted its position in Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

PLTR stock traded down $0.81 on Thursday, hitting $26.08. 31,055,493 shares of the company’s stock were exchanged, compared to its average volume of 54,490,625. The firm has a 50 day moving average price of $25.29 and a two-hundred day moving average price of $23.18. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $29.83. The stock has a market cap of $58.08 billion, a P/E ratio of 217.35, a price-to-earnings-growth ratio of 6.09 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The business had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. Sell-side analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Peter Thiel sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $20.78, for a total value of $103,900,000.00. Following the sale, the director now owns 15,733,625 shares in the company, valued at $326,944,727.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Glazer sold 90,000 shares of the firm’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 transaction of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,447,179 shares of company stock valued at $242,285,913. Insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research analyst reports. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a research note on Friday, June 21st. Royal Bank of Canada upped their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 7th. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their target price for the company from $21.00 to $22.00 in a research report on Tuesday, July 16th. DA Davidson upped their price target on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, Wedbush reissued an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a report on Monday, May 6th. Seven equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.96.

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.