Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,031,532 shares of the company’s stock after purchasing an additional 187,860 shares during the period. Bank of New York Mellon Corp owned approximately 0.56% of Palantir Technologies worth $1,099,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after buying an additional 4,127,306 shares during the period. Northern Trust Corp increased its holdings in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after acquiring an additional 3,299,779 shares during the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $1,360,191,000. FMR LLC boosted its position in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $134.27 on Friday. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22. The business’s 50-day simple moving average is $128.47 and its 200 day simple moving average is $101.48. The stock has a market cap of $316.85 billion, a price-to-earnings ratio of 583.76, a price-to-earnings-growth ratio of 11.47 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 earnings per share. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLTR. DA Davidson increased their price objective on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective for the company. Cantor Fitzgerald raised their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley lifted their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $89.32.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 33,335 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the completion of the transaction, the insider directly owned 363,755 shares of the company’s stock, valued at approximately $49,219,689.05. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 34,357 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.96, for a total value of $4,327,607.72. Following the transaction, the insider directly owned 592 shares of the company’s stock, valued at $74,568.32. This trade represents a 98.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,451,497 shares of company stock valued at $186,110,685 over the last 90 days. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Company 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.