MONECO Advisors LLC Raises Holdings in Palantir Technologies Inc. (NYSE:PLTR)

MONECO Advisors LLC grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 18.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,978 shares of the company’s stock after buying an additional 1,586 shares during the period. MONECO Advisors LLC’s holdings in Palantir Technologies were worth $371,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the last quarter. Heritage Wealth Management Inc. CA purchased a new stake in Palantir Technologies during the 3rd quarter worth about $1,076,000. Cyndeo Wealth Partners LLC purchased a new stake in Palantir Technologies during the 3rd quarter worth about $6,339,000. Seven Grand Managers LLC purchased a new stake in Palantir Technologies during the 3rd quarter worth about $930,000. Finally, Dock Street Asset Management Inc. lifted its holdings in Palantir Technologies by 23.4% during the 3rd quarter. Dock Street Asset Management Inc. now owns 998,953 shares of the company’s stock worth $37,161,000 after purchasing an additional 189,189 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $289,580,255.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the sale, the insider now 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 21,204,508 shares of company stock worth $802,654,666 in the last ninety days. 12.93% of the stock is owned by insiders.

Palantir Technologies Price Performance

PLTR opened at $43.72 on Thursday. The stock’s 50 day simple moving average is $37.58 and its 200 day simple moving average is $29.27. Palantir Technologies Inc. has a 1 year low of $14.48 and a 1 year high of $45.14. The firm has a market cap of $97.91 billion, a price-to-earnings ratio of 257.18 and a beta of 2.72.

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

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. DA Davidson increased their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Jefferies Financial Group upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Wedbush upped their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Finally, Bank of America upped their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. 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 stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus price target 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.