Palantir Technologies Inc. $PLTR is Federated Hermes Inc.’s 7th Largest Position

Federated Hermes Inc. boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 69.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,614,522 shares of the company’s stock after buying an additional 1,883,721 shares during the period. Palantir Technologies makes up about 1.2% of Federated Hermes Inc.’s investment portfolio, making the stock its 7th largest holding. Federated Hermes Inc. owned 0.20% of Palantir Technologies worth $629,052,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Signature Resources Capital Management LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter worth about $25,000. Wealth Preservation Advisors LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at about $27,000. 1248 Management LLC bought a new stake in Palantir Technologies during the 1st quarter valued at about $27,000. Briaud Financial Planning Inc purchased a new position in Palantir Technologies in the second quarter worth about $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in Palantir Technologies in the second quarter worth about $27,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Citigroup upped their price objective on Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $141.00 to $188.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Four investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $172.28.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 21,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $165.95, for a total value of $3,484,950.00. Following the transaction, the director directly owned 59,794 shares in the company, valued at $9,922,814.30. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 149,872 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $24,577,509.28. Following the completion of the transaction, the insider directly owned 642,786 shares in the company, valued at approximately $105,410,476.14. This represents a 18.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,029,844 shares of company stock worth $168,161,111 in the last quarter. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Trading Up 2.2%

Shares of NASDAQ PLTR opened at $181.76 on Friday. The firm has a market capitalization of $433.21 billion, a price-to-earnings ratio of 432.77, a price-to-earnings-growth ratio of 7.05 and a beta of 1.49. Palantir Technologies Inc. has a 12-month low of $63.40 and a 12-month high of $207.52. The firm has a 50 day moving average of $178.99 and a 200 day moving average of $161.45.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.10 earnings per share. Palantir Technologies’s quarterly revenue was up 62.8% compared to the same quarter last year. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies Company Profile

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.