StoneX Group Inc. Grows Position in Palantir Technologies Inc. $PLTR

by · The Markets Daily

StoneX Group Inc. grew its position in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 75.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,855 shares of the company’s stock after acquiring an additional 11,985 shares during the quarter. StoneX Group Inc.’s holdings in Palantir Technologies were worth $3,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Vanguard Group Inc. increased its position in Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares during the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $3,307,457,000. Invesco Ltd. lifted its holdings in shares of Palantir Technologies by 16.0% in the 2nd quarter. Invesco Ltd. now owns 20,585,256 shares of the company’s stock valued at $2,806,182,000 after acquiring an additional 2,838,300 shares during the last quarter. Northern Trust Corp grew its position in Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock worth $1,650,310,000 after acquiring an additional 64,973 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Palantir Technologies in the second quarter worth about $2,543,888,000. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings downgraded Palantir Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Bank of America boosted their target price on Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Cantor Fitzgerald raised their price target on Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $141.00 to $188.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Finally, Northland Securities increased their target price on shares of Palantir Technologies from $14.00 to $18.50 in a research note on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $172.28.

Check Out Our Latest Stock Analysis on Palantir Technologies

Palantir Technologies Stock Up 2.2%

Shares of Palantir Technologies stock opened at $181.76 on Friday. The stock’s fifty day moving average is $178.99 and its two-hundred day moving average is $161.21. The company has a market capitalization of $433.21 billion, a PE ratio of 432.77, a price-to-earnings-growth ratio of 6.90 and a beta of 1.49. Palantir Technologies Inc. has a 52 week low of $63.40 and a 52 week high of $207.52.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The business’s revenue for the quarter was up 62.8% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In other news, insider David A. Glazer sold 1,973 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $156.25, for a total value of $308,281.25. Following the completion of the sale, the insider owned 413,639 shares of the company’s stock, valued at approximately $64,631,093.75. This represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 39,136 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $156.25, for a total value of $6,115,000.00. Following the sale, the insider owned 592 shares of the company’s stock, valued at approximately $92,500. This represents a 98.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,029,844 shares of company stock valued at $168,161,111. Insiders own 9.23% of the company’s stock.

Palantir Technologies Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR – Free Report).