AQR Capital Management LLC Buys 439,770 Shares of Palantir Technologies Inc. $PLTR

AQR Capital Management LLC increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 19.6% in the second quarter, HoldingsChannel reports. The fund owned 2,678,278 shares of the company’s stock after purchasing an additional 439,770 shares during the period. AQR Capital Management LLC’s holdings in Palantir Technologies were worth $365,103,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 3.6% during the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after purchasing an additional 7,194,216 shares during the period. State Street Corp increased its stake in shares of Palantir Technologies by 6.9% in the second quarter. State Street Corp now owns 94,481,128 shares of the company’s stock worth $12,879,667,000 after buying an additional 6,097,629 shares during the period. Norges Bank bought a new stake in Palantir Technologies during the 2nd quarter valued at $3,307,457,000. Invesco Ltd. boosted its position in Palantir Technologies by 16.0% during the 2nd quarter. Invesco Ltd. now owns 20,585,256 shares of the company’s stock valued at $2,806,182,000 after buying an additional 2,838,300 shares during the period. Finally, Northern Trust Corp grew its holdings in Palantir Technologies by 0.3% in the 1st 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 during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $183.57 on Friday. The firm has a market capitalization of $437.53 billion, a P/E ratio of 437.08, a P/E/G ratio of 7.27 and a beta of 1.49. The stock has a 50 day moving average price of $179.31 and a 200-day moving average price of $163.34. Palantir Technologies Inc. has a 52-week low of $63.40 and a 52-week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly 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 company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PLTR shares. HSBC upped their price objective on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. CICC Research increased their price objective on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Raymond James Financial reiterated a “market perform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Piper Sandler upped their target price on Palantir Technologies from $201.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Finally, Northland Securities raised their price target on Palantir Technologies from $14.00 to $18.50 in a research note on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $172.28.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 1,973 shares of the stock in a transaction dated 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 transaction, the insider directly owned 413,639 shares in the company, valued at $64,631,093.75. This trade represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Buckley sold 1,252 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $157.50, for a total transaction of $197,190.00. Following the sale, the insider directly owned 47,044 shares in the company, valued at $7,409,430. The trade was a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,008,844 shares of company stock worth $164,676,161. 9.23% of the stock is owned by insiders.

About Palantir Technologies

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.