Magnus Financial Group LLC Acquires 2,100 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Magnus Financial Group LLC raised its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 8.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,125 shares of the company’s stock after purchasing an additional 2,100 shares during the period. Magnus Financial Group LLC’s holdings in Palantir Technologies were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PLTR. International Assets Investment Management LLC lifted its position in shares of Palantir Technologies by 9.7% during the fourth quarter. International Assets Investment Management LLC now owns 168,653 shares of the company’s stock worth $2,896,000 after purchasing an additional 14,952 shares during the last quarter. Yousif Capital Management LLC grew its stake in Palantir Technologies by 5.3% in the 4th quarter. Yousif Capital Management LLC now owns 19,197 shares of the company’s stock worth $330,000 after acquiring an additional 970 shares in the last quarter. Truist Financial Corp grew its stake in Palantir Technologies by 44.0% in the 4th quarter. Truist Financial Corp now owns 115,520 shares of the company’s stock worth $1,983,000 after acquiring an additional 35,295 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Palantir Technologies by 48.9% during the fourth quarter. Russell Investments Group Ltd. now owns 374,833 shares of the company’s stock worth $6,461,000 after acquiring an additional 123,048 shares during the period. Finally, Vantage Financial Partners LLC boosted its holdings in shares of Palantir Technologies by 20.2% in the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after purchasing an additional 10,124 shares during the period. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Down 3.1 %

NYSE PLTR opened at $30.51 on Wednesday. The stock has a market cap of $68.31 billion, a PE ratio of 254.23, a P/E/G ratio of 5.55 and a beta of 2.71. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $33.13. The stock has a fifty day simple moving average of $28.48 and a 200-day simple moving average of $24.96.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same period in the previous year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. Research analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. Jefferies Financial Group increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Northland Securities began coverage on Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target on the stock. HSBC boosted their price target on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $25.00.

Insider Activity

In related news, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the transaction, the insider now owns 298,012 shares in the company, valued at $8,749,632.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider David A. Glazer sold 90,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the sale, the insider now owns 298,012 shares in the company, valued at approximately $8,749,632.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric H. Woersching sold 26,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $23.32, for a total value of $606,320.00. Following the completion of the transaction, the director now owns 38,843 shares in the company, valued at $905,818.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 728,664 shares of company stock valued at $21,997,409. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. 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 facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.