Bridgefront Capital LLC Acquires New Shares in Palantir Technologies Inc. (NYSE:PLTR)

Bridgefront Capital LLC acquired a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR – Get Rating) in the third quarter, Holdings Channel reports. The fund acquired 20,955 shares of the company’s stock, valued at approximately $170,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its position in Palantir Technologies by 1.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 356,100 shares of the company’s stock valued at $2,895,000 after purchasing an additional 3,500 shares during the period. Saba Capital Management L.P. boosted its position in Palantir Technologies by 30.7% during the 3rd quarter. Saba Capital Management L.P. now owns 317,295 shares of the company’s stock worth $2,580,000 after acquiring an additional 74,500 shares during the period. Commerce Bank boosted its position in Palantir Technologies by 329.8% during the 2nd quarter. Commerce Bank now owns 53,678 shares of the company’s stock worth $487,000 after acquiring an additional 41,188 shares during the period. MQS Management LLC acquired a new position in Palantir Technologies during the 3rd quarter worth $108,000. Finally, Legal & General Group Plc boosted its position in Palantir Technologies by 8.7% during the 2nd quarter. Legal & General Group Plc now owns 10,031,568 shares of the company’s stock worth $90,985,000 after acquiring an additional 801,826 shares during the period. Institutional investors and hedge funds own 31.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PLTR shares. Mizuho boosted their price target on Palantir Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 14th. DA Davidson assumed coverage on Palantir Technologies in a research report on Tuesday, February 28th. They set a “neutral” rating and a $8.00 price target for the company. The Goldman Sachs Group dropped their price objective on Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 14th. Jefferies Financial Group downgraded Palantir Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $9.00 to $7.50 in a research note on Thursday, January 5th. Finally, Morgan Stanley dropped their price objective on Palantir Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Monday, December 19th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $9.64.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 7,000 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $7.85, for a total value of $54,950.00. Following the transaction, the director now owns 206,830 shares of the company’s stock, valued at approximately $1,623,615.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Ryan D. Taylor sold 153,049 shares of the firm’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $10.07, for a total transaction of $1,541,203.43. Following the sale, the insider now owns 281,526 shares of the company’s stock, valued at approximately $2,834,966.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 7,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $7.85, for a total value of $54,950.00. Following the sale, the director now directly owns 206,830 shares in the company, valued at approximately $1,623,615.50. The disclosure for this sale can be found here. Insiders have sold a total of 191,562 shares of company stock valued at $1,842,051 in the last 90 days. 13.71% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $7.88 on Friday. The business’s fifty day moving average price is $7.87 and its two-hundred day moving average price is $7.64. The firm has a market capitalization of $16.56 billion, a price-to-earnings ratio of -41.47, a PEG ratio of 2.99 and a beta of 2.87. Palantir Technologies Inc. has a 52 week low of $5.84 and a 52 week high of $14.86.

Palantir Technologies (NYSE:PLTR – Get Rating) last posted its quarterly earnings results on Monday, February 13th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $508.62 million for the quarter, compared to the consensus estimate of $504.84 million. Palantir Technologies had a negative return on equity of 11.90% and a negative net margin of 19.61%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.02 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.05 EPS for the current year.

Palantir Technologies Profile

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.