Palantir Technologies Inc. (NYSE:PLTR) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lifted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 8.6% during the third quarter, HoldingsChannel.com reports. The firm owned 1,453,575 shares of the company’s stock after purchasing an additional 115,575 shares during the period. Commonwealth Equity Services LLC’s holdings in Palantir Technologies were worth $54,073,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new position in Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. West Paces Advisors Inc. boosted its stake in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $30,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity

In related news, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the sale, the director now directly owns 138,304 shares in the company, valued at $6,071,545.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the transaction, the insider now directly owns 372,565 shares in the company, valued at $11,180,675.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,747,176 shares of company stock valued at $646,951,347 in the last 90 days. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $42.97 on Friday. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $44.39. The company has a market capitalization of $96.23 billion, a PE ratio of 252.78 and a beta of 2.72. The stock has a fifty day moving average of $35.60 and a two-hundred day moving average of $28.10.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group upped their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Monness Crespi & Hardt lowered their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Northland Securities started coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target on the stock. Finally, DA Davidson raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $27.86.

Palantir Technologies Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform 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.