Eaton Vance Management Purchases 2,335,029 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Eaton Vance Management raised its position in Palantir Technologies Inc. (NYSE:PLTR) by 112.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,403,034 shares of the company’s stock after buying an additional 2,335,029 shares during the quarter. Eaton Vance Management owned about 0.24% of Palantir Technologies worth $102,547,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Palantir Technologies by 442.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,085 shares of the company’s stock valued at $26,000 after purchasing an additional 885 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of Palantir Technologies in the 1st quarter valued at approximately $26,000. Northern Oak Wealth Management Inc. acquired a new stake in shares of Palantir Technologies in the 1st quarter valued at approximately $26,000. Capital Asset Advisory Services LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $28,000. Finally, Hartford Financial Management Inc. acquired a new stake in shares of Palantir Technologies in the 1st quarter valued at approximately $29,000. 15.34% of the stock is currently owned by hedge funds and other institutional investors.

PLTR has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price target on shares of Palantir Technologies from $27.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 12th. Jefferies Financial Group cut their target price on shares of Palantir Technologies from $40.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, May 12th. They noted that the move was a valuation call. Wolfe Research cut their target price on shares of Palantir Technologies from $23.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 12th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Palantir Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, July 14th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $21.44.

NYSE:PLTR opened at $22.52 on Thursday. The company has a fifty day moving average of $23.44. The company has a market cap of $42.26 billion and a price-to-earnings ratio of 118.53. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.11. Palantir Technologies Inc. has a twelve month low of $8.90 and a twelve month high of $45.00.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Tuesday, May 11th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $341.20 million during the quarter, compared to the consensus estimate of $332.22 million. The company’s quarterly revenue was up 48.8% on a year-over-year basis. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.08 EPS for the current fiscal year.

In other Palantir Technologies news, insider David A. Glazer sold 9,000 shares of the business’s stock in a transaction on Monday, June 28th. The shares were sold at an average price of $27.00, for a total transaction of $243,000.00. Following the completion of the sale, the insider now owns 2,725,244 shares in the company, valued at approximately $73,581,588. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 638,629 shares of the business’s stock in a transaction on Tuesday, May 4th. The shares were sold at an average price of $21.33, for a total transaction of $13,621,956.57. Following the sale, the insider now owns 140,771 shares of the company’s stock, valued at approximately $3,002,645.43. The disclosure for this sale can be found here. Insiders have sold a total of 6,771,051 shares of company stock valued at $155,947,706 in the last 90 days. 17.00% of the stock is currently owned by company insiders.

About Palantir Technologies

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 for government operatives in the defense and intelligence sectors, which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.

Further Reading: Return on Equity (ROE)

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

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