Connor Clark & Lunn Investment Management Ltd. Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 202,369 shares of the company's stock, valued at approximately $17,080,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MUFG Securities EMEA plc acquired a new position in Palantir Technologies during the 1st quarter worth approximately $34,604,000. Zions Bancorporation National Association UT acquired a new position in Palantir Technologies during the 1st quarter worth approximately $345,000. Townsquare Capital LLC increased its position in Palantir Technologies by 60.5% during the 1st quarter. Townsquare Capital LLC now owns 78,902 shares of the company's stock worth $6,659,000 after purchasing an additional 29,745 shares in the last quarter. Sloy Dahl & Holst LLC increased its position in Palantir Technologies by 9.0% during the 1st quarter. Sloy Dahl & Holst LLC now owns 131,940 shares of the company's stock worth $11,136,000 after purchasing an additional 10,909 shares in the last quarter. Finally, Founders Financial Alliance LLC increased its position in Palantir Technologies by 41.5% during the 1st quarter. Founders Financial Alliance LLC now owns 3,846 shares of the company's stock worth $325,000 after purchasing an additional 1,128 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Citigroup reiterated a "neutral" rating and set a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Loop Capital boosted their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Stock Up 2.6%

Palantir Technologies stock opened at $186.96 on Monday. Palantir Technologies Inc. has a 12-month low of $29.10 and a 12-month high of $187.99. The firm's fifty day moving average is $145.64 and its 200 day moving average is $116.13. The company has a market capitalization of $441.21 billion, a PE ratio of 623.22, a PEG ratio of 10.54 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business's revenue was up 48.0% on a year-over-year basis. Sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the transaction, the insider owned 367,691 shares in the company, valued at approximately $46,472,465.49. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,515,632 shares of company stock valued at $196,472,623. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.

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