Quantbot Technologies LP Acquires New Shares in Palantir Technologies Inc. $PLTR

Key Points

• Quantbot Technologies LP has acquired a new stake in Palantir Technologies, purchasing 257,929 shares valued at approximately $21.77 million, making it the firm's 9th largest holding.
• Palantir's stock recently opened at $177.17 and has seen significant price fluctuations, with a 12-month low of $29.31 and a high of $190.00.
• In its latest earnings report, Palantir beat analyst expectations with $0.16 earnings per share and reported quarterly revenue of $1 billion, reflecting a 48% year-over-year increase.

Quantbot Technologies LP acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 257,929 shares of the company's stock, valued at approximately $21,769,000. Palantir Technologies comprises about 0.7% of Quantbot Technologies LP's holdings, making the stock its 9th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mechanics Financial Corp bought a new stake in Palantir Technologies during the 1st quarter valued at approximately $25,000. Cornerstone Planning Group LLC increased its stake in Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after acquiring an additional 185 shares during the last quarter. Richardson Capital Management LLC bought a new stake in Palantir Technologies in the 1st quarter worth approximately $33,000. Atlantic Edge Private Wealth Management LLC increased its position in shares of Palantir Technologies by 45.5% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its position in shares of Palantir Technologies by 118.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company's stock valued at $35,000 after purchasing an additional 224 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 2.1%

Shares of Palantir Technologies stock opened at $177.17 on Monday. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00. The stock has a market capitalization of $420.31 billion, a P/E ratio of 590.59, a PEG ratio of 9.99 and a beta of 2.60. The business's fifty day moving average price is $151.03 and its 200 day moving average price is $119.75.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 earnings per share 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 analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The firm's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $3,894,328.68. Following the transaction, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares in the company, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,515,632 shares of company stock valued at $196,472,623 over the last 90 days. Corporate insiders own 12.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLTR. Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and raised their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Piper Sandler set a $182.00 price target on Palantir Technologies in a research note on Tuesday, August 5th. The Goldman Sachs Group increased their price target on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada increased their price target on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $136.61.

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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