BOCHK Asset Management Ltd Invests $97,000 in Palantir Technologies Inc. (NYSE:PLTR)

BOCHK Asset Management Ltd bought a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, Holdings Channel.com reports. The firm bought 2,600 shares of the company’s stock, valued at approximately $97,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after acquiring an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC grew its holdings in Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after acquiring an additional 277,623 shares during the period. Legal & General Group Plc raised its position in shares of Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after acquiring an additional 167,030 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its stake in shares of Palantir Technologies by 19.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the transaction, the director now owns 65,989 shares of the company’s stock, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the transaction, the insider now owns 562,006 shares in the company, valued at $22,452,139.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the sale, the director now owns 65,989 shares of the company’s stock, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,747,176 shares of company stock valued at $646,951,347. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLTR. Wedbush raised their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Royal Bank of Canada reaffirmed 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 shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Northland Securities began coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target for the company. Finally, Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $27.86.

Palantir Technologies Trading Up 1.2 %

Shares of NYSE:PLTR traded up $0.53 during mid-day trading on Thursday, hitting $43.12. 23,017,071 shares of the company traded hands, compared to its average volume of 56,543,484. The stock has a 50-day moving average price of $36.35 and a two-hundred day moving average price of $28.52. Palantir Technologies Inc. has a 12-month low of $14.48 and a 12-month high of $44.39. The stock has a market cap of $96.57 billion, a P/E ratio of 255.84 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 earnings per share. As a group, analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

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.