E Fund Management Co. Ltd. Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

E Fund Management Co. Ltd. lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 88.1% during the 1st quarter, HoldingsChannel reports. The firm owned 128,185 shares of the company’s stock after buying an additional 60,052 shares during the period. Palantir Technologies comprises about 0.5% of E Fund Management Co. Ltd.’s investment portfolio, making the stock its 29th biggest position. E Fund Management Co. Ltd.’s holdings in Palantir Technologies were worth $10,819,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new position in Palantir Technologies in the fourth quarter valued at $450,000. Townsquare Capital LLC grew its stake in shares of Palantir Technologies by 29.3% during the fourth quarter. Townsquare Capital LLC now owns 49,157 shares of the company’s stock valued at $3,718,000 after buying an additional 11,151 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Palantir Technologies by 16.4% during the fourth quarter. Synovus Financial Corp now owns 20,830 shares of the company’s stock valued at $1,575,000 after buying an additional 2,932 shares during the last quarter. SageView Advisory Group LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $459,000. Finally, Mariner LLC grew its stake in shares of Palantir Technologies by 22.1% in the fourth quarter. Mariner LLC now owns 610,598 shares of the company’s stock worth $46,181,000 after purchasing an additional 110,419 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. Loop Capital lifted their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Bank of America lifted their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Palantir Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $136.61.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the transaction, the director directly owned 62,887 shares of the company’s stock, valued at approximately $8,779,654.07. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David A. Glazer sold 3,418 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the transaction, the insider directly owned 492,079 shares in the company, valued at approximately $61,987,191.63. This trade represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,515,632 shares of company stock valued at $196,472,623 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $186.97 on Wednesday. The company has a market cap of $441.23 billion, a P/E ratio of 623.25, a PEG ratio of 10.30 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $29.31 and a 1 year high of $190.00. The firm has a 50-day simple moving average of $147.73 and a two-hundred day simple moving average of $117.34.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies 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.