Engineers Gate Manager LP Purchases 162,773 Shares of Palantir Technologies Inc. $PLTR

Engineers Gate Manager LP grew its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 313.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,709 shares of the company’s stock after purchasing an additional 162,773 shares during the period. Engineers Gate Manager LP’s holdings in Palantir Technologies were worth $29,269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLTR. Signature Resources Capital Management LLC purchased a new position in Palantir Technologies during the second quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of Palantir Technologies during the 1st quarter valued at about $27,000. 1248 Management LLC purchased a new position in shares of Palantir Technologies during the first quarter worth about $27,000. Briaud Financial Planning Inc bought a new position in shares of Palantir Technologies in the second quarter worth approximately $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Palantir Technologies in the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PLTR shares. CICC Research boosted their price target on shares of Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Palantir Technologies in a research report on Monday. The Goldman Sachs Group raised their price target on Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Wall Street Zen lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Finally, Piper Sandler increased their price objective on 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, seventeen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $172.28.

Palantir Technologies Trading Down 2.1%

Shares of NASDAQ:PLTR opened at $183.57 on Friday. The stock has a market capitalization of $437.53 billion, a P/E ratio of 437.08, a price-to-earnings-growth ratio of 7.27 and a beta of 1.49. The stock’s 50-day moving average price is $179.31 and its 200-day moving average price is $163.34. Palantir Technologies Inc. has a 12-month low of $63.40 and a 12-month high of $207.52.

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

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 19,004 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the completion of the sale, the insider owned 642,786 shares of the company’s stock, valued at $100,435,312.50. This represents a 2.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 39,136 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $156.25, for a total transaction of $6,115,000.00. Following the completion of the sale, the insider directly owned 592 shares in the company, valued at approximately $92,500. This trade represents a 98.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,008,844 shares of company stock valued at $164,676,161. Corporate insiders own 9.23% of the company’s stock.

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.