Liontrust Investment Partners LLP Boosts Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Liontrust Investment Partners LLP increased its holdings in Palantir Technologies by 100.5% in the first quarter, bringing their total shares to 114,208 and valuing the stake at $9.6 million.
• Significant transactions were made by other hedge funds, with Goldman Sachs increasing its position by 38.5%, now owning over 15 million shares worth approximately $1.3 billion.
• Research analysts have mixed ratings on Palantir, with a consensus price target of $136.61, while recent earnings reports showed a 48% year-over-year revenue growth and an earnings per share of $0.16.

Liontrust Investment Partners LLP grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 100.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,208 shares of the company's stock after buying an additional 57,250 shares during the period. Liontrust Investment Partners LLP's holdings in Palantir Technologies were worth $9,639,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PLTR. Nuveen LLC purchased a new stake in shares of Palantir Technologies in the 1st quarter valued at approximately $520,232,000. Goldman Sachs Group Inc. boosted its position in shares of Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Capital World Investors purchased a new position in shares of Palantir Technologies during the 4th quarter worth approximately $253,816,000. Northern Trust Corp boosted its position in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research analyst reports. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and increased their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Trading Down 1.8%

Shares of PLTR opened at $181.02 on Friday. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00. The firm's fifty day simple moving average is $150.04 and its 200-day simple moving average is $118.54. The firm has a market capitalization of $427.19 billion, a price-to-earnings ratio of 603.42, a PEG ratio of 10.39 and a beta of 2.60.

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

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares of the company's stock, valued at $46,472,465.49. This trade represents a 8.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the 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 completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,515,632 shares of company stock worth $196,472,623. Insiders own 9.23% of the company's stock.

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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