85,000 Shares in Palantir Technologies Inc. (NYSE:PLTR) Bought by Firsthand Capital Management Inc.

Firsthand Capital Management Inc. purchased a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 3rd quarter, HoldingsChannel reports. The firm purchased 85,000 shares of the company’s stock, valued at approximately $3,162,000. Palantir Technologies makes up 6.2% of Firsthand Capital Management Inc.’s portfolio, making the stock its 5th largest holding.

Several other institutional investors have also added to or reduced their stakes in PLTR. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the second quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies during the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies during the second quarter worth about $30,000. Finally, Ashburton Jersey Ltd purchased a new stake in shares of Palantir Technologies during the second quarter worth about $36,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLTR has been the subject of a number of recent analyst reports. Wedbush upped their price target on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. DA Davidson boosted their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Mizuho boosted their price objective on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Finally, Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.64.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,050 shares of Palantir Technologies stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.19, for a total value of $200,799.50. Following the completion of the transaction, the director now directly owns 158,280 shares of the company’s stock, valued at approximately $5,253,313.20. The trade was a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 1,620,395 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $406,583,028.18. This represents a 20.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,163,181 shares of company stock worth $1,603,288,758. 12.93% of the stock is owned by insiders.

Palantir Technologies Price Performance

NYSE:PLTR opened at $67.08 on Friday. The firm has a market capitalization of $152.81 billion, a P/E ratio of 335.42, a PEG ratio of 8.93 and a beta of 2.70. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $67.88. The company’s 50-day simple moving average is $48.86 and its 200 day simple moving average is $34.87.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue was up 30.0% on a year-over-year basis. During the same period last year, the business earned $0.03 earnings per share. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

About Palantir Technologies

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.