Bryce Point Capital LLC Invests $804,000 in Palantir Technologies Inc. $PLTR

Bryce Point Capital LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,897 shares of the company’s stock, valued at approximately $804,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Northern Trust Corp increased its holdings in Palantir Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock valued at $1,650,310,000 after purchasing an additional 64,973 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Palantir Technologies in the 2nd quarter valued at approximately $2,543,888,000. Invesco Ltd. increased its holdings in Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLTR. Wall Street Zen downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Bank of America lifted their target price on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Mizuho set a $165.00 target price on shares of Palantir Technologies in a report on Monday, September 15th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Finally, Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $142.00.

Insider Buying and Selling at Palantir Technologies

In other news, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares of the company’s stock, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the sale, the insider directly owned 702,786 shares of the company’s stock, valued at approximately $112,129,506.30. This trade represents a 4.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,527,750 shares of company stock worth $234,463,896. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Up 3.3%

Palantir Technologies stock opened at $207.18 on Tuesday. The stock has a market cap of $491.50 billion, a P/E ratio of 690.62, a price-to-earnings-growth ratio of 10.87 and a beta of 2.63. The company has a fifty day simple moving average of $175.75 and a 200-day simple moving average of $151.99. Palantir Technologies Inc. has a 12-month low of $41.03 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (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 analysts’ expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company’s revenue for the quarter was up 48.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.