Jupiter Asset Management Ltd. Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

Jupiter Asset Management Ltd. acquired a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 327,700 shares of the company’s stock, valued at approximately $5,020,000.

A number of other hedge funds also recently made changes to their positions in PLTR. AlphaCrest Capital Management LLC purchased a new position in Palantir Technologies during the first quarter valued at approximately $206,000. D.A. Davidson & CO. lifted its holdings in Palantir Technologies by 18.6% during the first quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock valued at $200,000 after purchasing an additional 2,286 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Palantir Technologies during the first quarter valued at approximately $1,475,000. Cibc World Market Inc. lifted its holdings in Palantir Technologies by 38.3% during the first quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after purchasing an additional 62,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Palantir Technologies by 71.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock valued at $15,832,000 after purchasing an additional 482,171 shares in the last quarter. 34.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLTR has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and set a $25.00 price target on shares of Palantir Technologies in a report on Monday, September 18th. Mizuho lifted their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. TheStreet raised shares of Palantir Technologies from a “d” rating to a “c-” rating in a report on Friday, September 29th. HSBC started coverage on shares of Palantir Technologies in a report on Friday, September 15th. They issued a “hold” rating and a $16.00 target price on the stock. Finally, Morgan Stanley downgraded shares of Palantir Technologies from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $8.00 to $9.00 in a report on Thursday, August 31st. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.25.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $20.49 on Friday. The stock’s fifty day moving average is $16.67 and its 200 day moving average is $15.41. Palantir Technologies Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $20.58. The firm has a market capitalization of $44.59 billion, a PE ratio of 341.56, a PEG ratio of 3.47 and a beta of 2.70.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 196,888 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $14.55, for a total transaction of $2,864,720.40. Following the sale, the insider now owns 592 shares in the company, valued at approximately $8,613.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Palantir Technologies news, insider Stephen Andrew Cohen sold 196,888 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $14.55, for a total value of $2,864,720.40. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $8,613.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander D. Moore sold 21,900 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $15.09, for a total value of $330,471.00. Following the completion of the transaction, the director now directly owns 1,765,019 shares in the company, valued at approximately $26,634,136.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 641,409 shares of company stock worth $9,738,595. Company insiders own 13.96% of the company’s stock.

Palantir Technologies Profile

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.