Mission Wealth Management LP Raises Stock Holdings in Palantir Technologies Inc. $PLTR

Mission Wealth Management LP boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 90.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 21,614 shares of the company’s stock after purchasing an additional 10,269 shares during the quarter. Mission Wealth Management LP’s holdings in Palantir Technologies were worth $2,946,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Northern Trust Corp increased its stake 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 worth $1,650,310,000 after buying an additional 64,973 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Palantir Technologies during the 2nd quarter valued at $2,543,888,000. Invesco Ltd. grew its holdings in 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 acquiring an additional 2,998,716 shares in the last quarter. Goldman Sachs Group Inc. increased 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 purchasing an additional 4,221,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Palantir Technologies by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company’s stock valued at $1,149,055,000 after purchasing an additional 571,544 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of PLTR opened at $200.47 on Monday. Palantir Technologies Inc. has a 12 month low of $40.90 and a 12 month high of $204.18. The stock has a fifty day moving average price of $174.75 and a 200 day moving average price of $151.19. The company has a market cap of $475.58 billion, a P/E ratio of 668.26, a PEG ratio of 10.87 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In other news, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,557,750 shares of company stock worth $239,713,896 over the last three months. Insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PLTR. Citigroup increased their price target on shares of Palantir Technologies from $177.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Royal Bank Of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, October 28th. Mizuho set a $165.00 price target on Palantir Technologies in a report on Monday, September 15th. Finally, The Goldman Sachs Group raised their price objective on Palantir Technologies from $90.00 to $141.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $142.00.

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.