QRG Capital Management Inc. increased its stake in Palantir Technologies Inc. by 4.4% in the 3rd quarter, according to the company’s recent 13F filing with the Securities and Exchange Commission (SEC). The firm now owns 464,554 shares of the company’s stock after purchasing an additional 19,723 shares during the period. The value of QRG Capital Management Inc.’s holdings in Palantir Technologies was $17,281,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Palantir Technologies by 1.6% during the 1st quarter, now owning 196,834,580 shares of the company’s stock worth $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. ARK Investment Management LLC, Legal & General Group Plc, Bank of New York Mellon Corp, and International Assets Investment Management LLC also raised their holdings in Palantir Technologies during various quarters.
Analysts have had mixed reviews on Palantir Technologies stock recently. Monness Crespi & Hardt lowered their price target on the stock to $18.00 with a “sell” rating, while Mizuho raised their price target to $30.00 with an “underperform” rating. The Goldman Sachs Group, Deutsche Bank Aktiengesellschaft, and Royal Bank of Canada also provided their own ratings and price targets for Palantir Technologies.
Palantir Technologies’ stock traded down $0.75 during mid-day trading on Monday, hitting $41.17. The company has a market capitalization of $92.20 billion, a price-to-earnings ratio of 246.60, and a beta of 2.70. The stock has a 50-day simple moving average of $37.98 and a 200-day simple moving average of $29.61. Palantir Technologies has a 52-week low of $15.66 and a 52-week high of $45.14.
In their last quarterly earnings report, Palantir Technologies reported $0.03 earnings per share (EPS) for the quarter, falling short of the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%.
Insiders at Palantir Technologies have been active in selling shares recently. Insider Alexander C. Karp sold over 3 million shares of the stock in October at an average price of $45.02. This represented a significant decrease in their ownership of the stock. Additionally, Director Lauren Elaina Friedman Stat sold 6,000 shares in September at an average price of $36.35.
Palantir Technologies Inc. builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations globally. The company’s software platform, Palantir Gotham, enables users to identify patterns hidden deep within datasets and helps analysts and operational users plan and execute real-world responses to threats.
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