Palantir Technologies Inc. $PLTR Position Raised by Invesco Ltd.

Invesco Ltd. boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 16.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,585,256 shares of the company’s stock after purchasing an additional 2,838,300 shares during the period. Palantir Technologies makes up approximately 0.5% of Invesco Ltd.’s holdings, making the stock its 20th biggest position. Invesco Ltd. owned about 0.87% of Palantir Technologies worth $2,806,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Palantir Technologies by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares during the last quarter. Norges Bank bought a new position in shares of Palantir Technologies in the second quarter worth about $3,307,457,000. Northern Trust Corp boosted its position in shares of Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock valued at $1,650,310,000 after acquiring an additional 64,973 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Palantir Technologies during the second quarter valued at about $2,543,888,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $170.69 on Wednesday. Palantir Technologies Inc. has a 1 year low of $63.40 and a 1 year high of $207.52. The stock has a fifty day moving average price of $179.00 and a 200-day moving average price of $160.59. The firm has a market cap of $406.83 billion, a PE ratio of 406.41, a P/E/G ratio of 6.49 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The business’s quarterly revenue was up 62.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 earnings per share. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In other news, insider Alexander C. Karp sold 45,564 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $156.25, for a total value of $7,119,375.00. Following the completion of the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $1,005,040,312.50. This represents a 0.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Buckley sold 1,252 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $157.50, for a total transaction of $197,190.00. Following the sale, the insider directly owned 47,044 shares in the company, valued at $7,409,430. The trade was a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,065,892 shares of company stock worth $173,869,312. 12.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Northland Securities lifted their price objective on Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. Cantor Fitzgerald increased their target price on Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Mizuho lifted their price objective on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Loop Capital increased their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Piper Sandler increased their price objective on shares of Palantir Technologies from $201.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $172.28.

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.