Advisors Asset Management Inc. Boosts Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Advisors Asset Management Inc. raised its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 76.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,665 shares of the company’s stock after acquiring an additional 23,178 shares during the quarter. Advisors Asset Management Inc.’s holdings in Palantir Technologies were worth $1,996,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. lifted its position in Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares during the last quarter. ARK Investment Management LLC lifted its holdings in shares of Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after purchasing an additional 277,623 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after purchasing an additional 167,030 shares during the period. Bank of New York Mellon Corp grew its stake in Palantir Technologies by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock worth $185,575,000 after buying an additional 292,885 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 155,539 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the completion of the sale, the insider now owns 331,369 shares in the company, valued at $11,604,542.38. This represents a 31.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,167,451 shares of company stock worth $1,603,067,889 in the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $64.35 on Monday. The stock has a market capitalization of $146.59 billion, a price-to-earnings ratio of 321.77 and a beta of 2.70. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $66.00. The stock has a fifty day moving average price of $45.94 and a two-hundred day moving average price of $33.48.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLTR. Monness Crespi & Hardt decreased their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Citigroup raised their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Mizuho boosted their price target on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Company 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.