Chicago Capital LLC Has $2.04 Million Position in Palantir Technologies Inc. (NYSE:PLTR)

Chicago Capital LLC increased its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 19.5% in the second quarter, HoldingsChannel reports. The firm owned 80,650 shares of the company’s stock after purchasing an additional 13,134 shares during the period. Chicago Capital LLC’s holdings in Palantir Technologies were worth $2,043,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after purchasing an additional 3,029,317 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after acquiring an additional 1,980,495 shares during the period. ARK Investment Management LLC lifted its position in Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in Palantir Technologies by 19.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after acquiring an additional 1,580,548 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Palantir Technologies by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after purchasing an additional 292,885 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 0.6 %

Shares of NYSE PLTR traded up $0.17 during trading hours on Friday, hitting $30.33. The company had a trading volume of 50,946,777 shares, compared to its average volume of 54,189,438. The firm’s 50 day moving average is $28.81 and its 200-day moving average is $25.08. Palantir Technologies Inc. has a 1-year low of $13.68 and a 1-year high of $33.13. The stock has a market capitalization of $67.54 billion, a P/E ratio of 252.92, a price-to-earnings-growth ratio of 5.55 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $24,352,627.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider David A. Glazer sold 90,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the sale, the insider now directly owns 298,012 shares in the company, valued at approximately $8,749,632.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 722,664 shares of company stock worth $22,008,889. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PLTR. DA Davidson raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Wedbush reissued an “outperform” rating and issued a $35.00 target price on shares of Palantir Technologies in a report on Friday, August 2nd. Mizuho lowered shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Finally, Raymond James boosted their price objective on shares of Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average price target of $25.00.

About Palantir Technologies

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.