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

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

Other institutional investors have also recently modified their holdings of the company. Accuvest Global Advisors lifted its stake in Palantir Technologies by 0.7% in the 2nd quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock valued at $1,232,000 after buying an additional 63 shares in the last quarter. Ignite Planners LLC lifted its stake in Palantir Technologies by 0.4% in the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock valued at $2,094,000 after buying an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. lifted its stake in Palantir Technologies by 1.3% in the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock valued at $747,000 after buying an additional 72 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its stake in Palantir Technologies by 1.0% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock valued at $1,007,000 after buying an additional 73 shares in the last quarter. Finally, Boomfish Wealth Group LLC lifted its stake in Palantir Technologies by 2.7% in the 2nd quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock valued at $379,000 after buying an additional 73 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, October 28th. UBS Group reaffirmed a “neutral” rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Wall Street Zen lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Citigroup raised their price target on shares of Palantir Technologies from $177.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $142.00.

Palantir Technologies Price Performance

PLTR opened at $207.18 on Tuesday. The company’s 50 day simple moving average is $175.75 and its two-hundred day simple moving average is $151.99. Palantir Technologies Inc. has a 1-year low of $41.03 and a 1-year high of $207.52. The firm has a market capitalization of $491.50 billion, a price-to-earnings ratio of 690.62, a price-to-earnings-growth ratio of 10.87 and a beta of 2.63.

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

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the completion of the sale, the insider owned 702,786 shares in the company, valued at $112,129,506.30. This trade represents a 4.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the sale, the insider owned 431,169 shares of the company’s stock, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,527,750 shares of company stock worth $234,463,896. Insiders own 12.93% of the company’s stock.

About Palantir Technologies

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.