Lbp Am Sa Invests in 38,167 Shares of Palantir Technologies

Lbp Am Sa has established a new investment in Palantir Technologies Inc. (NYSE:PLTR), procuring 38,167 shares of the data analytics firm's stock. This purchase, made during the second quarter, was publicized in a filing with the Securities and Exchange Commission, and the shares have an approximate value of $585,000.

Investment Activity in Palantir Shares

Several hedge funds and institutional investors have adjusted their holdings in PLTR. Van Cleef Asset Management Inc significantly increased its Palantir shares by 82.9%, bringing its total to 690,267 shares worth around $10.6 million. Frontier Capital Management Co. LLC made a substantial new investment worth about $39.9 million in the company. Nuveen Asset Management LLC marginally raised its stake by 0.3%, now owning 5,068,053 shares valued at roughly $77.7 million.

Additionally, there's been notable activity from Engine No. 1 LLC's Fund Management, increasing its ownership by 9.2% in Palantir, holding 23,341 shares, and Prelude Capital Management LLC's new stake acquisition worth approximately $656,000. Institutional investors presently own about 34.21% of Palantir's stock.

Analyst Perspectives and Ratings

Palantir Technologies has been on the radar of various analysts. The Royal Bank of Canada continues to rate the stock as 'underperform' with a price target of $5.00. On the other end, Wedbush maintains an 'outperform' stance with a $25.00 price target, highlighting differing views in the analyst community. Currently, the consensus among analysts is a 'Hold' rating with a target price average of $13.25.

Recent Insider Trading at Palantir

Regarding insider transactions, Heather A. Planishek, an insider at Palantir, sold 13,196 shares at an average price of $21.27 each. Following this sale, Planishek retains 748,810 shares valued close to $16 million. Other insiders have also been active in the market, with transactions totaling over $19 million in the last quarter. Insiders currently own 13.96% of the company’s stock.

Palantir's Stock Performance and Financials

PLTR stock opened at $17.14 with a 50-day moving average of $17.82 and a 200-day moving average of $16.32. Over the past year, the stock has swung from a low of $5.84 to a high of $21.85. The company claims a market capitalization of $37.29 billion and holds a forward P/E ratio of 285.58. During its last quarterly earnings report, Palantir beat expectations by a cent, reporting an EPS of $0.03, and showcased a net margin of 6.93% with a return on equity of 2.72%.

About Palantir Technologies

Palantir Technologies crafts sophisticated software platforms for intelligence community support, including counterterrorism efforts in the U.S. Their primary platform, Palantir Gotham, aids analysts in unveiling complex patterns across varied datasets and streamlines responses to identified threats.

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