Rhumbline Advisers lifted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 17.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,749,339 shares of the company’s stock after purchasing an additional 265,340 shares during the quarter. Rhumbline Advisers owned approximately 0.09% of Palantir Technologies worth $15,867,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of PLTR. Private Capital Group LLC increased its stake in shares of Palantir Technologies by 81.2% during the 2nd quarter. Private Capital Group LLC now owns 2,907 shares of the company’s stock worth $26,000 after purchasing an additional 1,303 shares during the last quarter. IndexIQ Advisors LLC acquired a new position in shares of Palantir Technologies during the 1st quarter worth $27,000. CX Institutional acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $29,000. Herold Advisors Inc. acquired a new position in Palantir Technologies in the 1st quarter valued at $35,000. Finally, TCI Wealth Advisors Inc. grew its stake in Palantir Technologies by 41.5% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,990 shares of the company’s stock valued at $36,000 after buying an additional 1,170 shares during the last quarter. Institutional investors and hedge funds own 30.80% of the company’s stock.
Insider Transactions at Palantir Technologies
In other news, insider Stephen Andrew Cohen sold 79,761 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $7.25, for a total transaction of $578,267.25. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $4,292. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.22% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on PLTR. Morgan Stanley lowered their target price on shares of Palantir Technologies from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 20th. Royal Bank of Canada lowered their target price on shares of Palantir Technologies from $6.00 to $5.00 and set an “underperform” rating on the stock in a research note on Monday, November 7th. The Goldman Sachs Group decreased their price target on shares of Palantir Technologies to $9.00 in a research report on Tuesday, November 15th. Credit Suisse Group decreased their price target on shares of Palantir Technologies to $11.00 in a research report on Monday, August 15th. Finally, Raymond James decreased their price target on shares of Palantir Technologies from $20.00 to $15.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 8th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $12.00.
Palantir Technologies Stock Down 1.2 %
NYSE:PLTR opened at $7.28 on Monday. The company has a 50-day moving average of $7.93 and a 200-day moving average of $8.54. Palantir Technologies Inc. has a 52 week low of $6.44 and a 52 week high of $21.40.
Palantir Technologies Profile
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides palantir gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitating the handoff between analysts and operational users, helping operators plan and execute real-time world responses to threats that have been identified within the platform.
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