Simplicity Solutions LLC Invests $74,000 in Palantir Technologies Inc. (NYSE:PLTR)

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Palantir Technologies logoSimplicity Solutions LLC purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR – Get Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,469 shares of the company’s stock, valued at approximately $74,000.

Several other institutional investors also recently modified their holdings of PLTR. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 22.4% during the first quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock worth $2,141,931,000 after buying an additional 28,563,749 shares in the last quarter. Two Sigma Investments LP increased its holdings in Palantir Technologies by 28,558.7% in the third quarter. Two Sigma Investments LP now owns 13,265,535 shares of the company’s stock valued at $107,849,000 after purchasing an additional 13,219,247 shares during the period. Renaissance Technologies LLC increased its holdings in Palantir Technologies by 17.5% in the third quarter. Renaissance Technologies LLC now owns 33,130,047 shares of the company’s stock valued at $269,347,000 after purchasing an additional 4,925,900 shares during the period. Millennium Management LLC increased its holdings in Palantir Technologies by 194.8% in the second quarter. Millennium Management LLC now owns 1,895,920 shares of the company’s stock valued at $17,196,000 after purchasing an additional 3,895,920 shares during the period. Finally, Ardevora Asset Management LLP acquired a new stake in Palantir Technologies in the third quarter valued at $22,852,000. 31.90% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

PLTR stock opened at $7.74 on Wednesday. The company’s 50-day moving average is $8.29 and its 200-day moving average is $7.74. Palantir Technologies Inc. has a 1 year low of $5.84 and a 1 year high of $12.05.

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

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent research reports. The Goldman Sachs Group decreased their price objective on Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, February 14th. Jefferies Financial Group downgraded Palantir Technologies from a “buy” rating to a “hold” rating and decreased their price objective for the company from $9.00 to $7.50 in a report on Thursday, January 5th. DA Davidson started coverage on shares of Palantir Technologies in a research report on Tuesday, February 28th. They set a “neutral” rating and a $8.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Palantir Technologies from $7.00 to $6.00 and set a “sell” rating on the stock in a research report on Monday, January 23rd. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Monday, March 27th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has been given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $8.25.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 153,049 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $10.07, for a total value of $1,541,203.43. Following the transaction, 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 legal filing with the SEC, which is available through this hyperlink. In other Palantir Technologies news, insider Ryan D. Taylor sold 153,049 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $10.07, for a total value of $1,541,203.43. Following the completion of the sale, the insider now owns 281,526 shares in the company, valued at approximately $2,834,966.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 7,000 shares of the stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $7.85, for a total transaction of $54,950.00. Following the completion of the sale, the director now owns 206,830 shares of the company’s stock, valued at approximately $1,623,615.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,462 shares of company stock valued at $1,980,256. 13.22% of the stock is owned by corporate insiders.

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 facilitating the handoff between analysts and operational users, helping operators plan and execute real-time world responses to threats that have been identified within the platform.

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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