Palantir Technologies Inc. (NYSE:PLTR) Position Increased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 73.8% in the third quarter, Holdings Channel.com reports. The fund owned 91,656 shares of the company’s stock after buying an additional 38,924 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Palantir Technologies were worth $3,409,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PLTR. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Palantir Technologies by 5.7% during 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 purchasing an additional 808,444 shares during the last quarter. ARK Investment Management LLC lifted its stake in Palantir Technologies by 2.2% during the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after buying an additional 277,623 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after buying an additional 167,030 shares during the period. Bank of New York Mellon Corp increased its position in shares of Palantir Technologies by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock worth $185,575,000 after acquiring an additional 292,885 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of 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 valued at $254,162,000 after acquiring an additional 6,641,253 shares during the period. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $64.63 on Tuesday. The company has a market capitalization of $147.23 billion, a P/E ratio of 323.17 and a beta of 2.70. The stock’s 50 day moving average price is $46.50 and its 200 day moving average price is $33.78. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $67.88.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the business posted $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on PLTR. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. DA Davidson lifted their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. The Goldman Sachs Group increased their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Mizuho upped their target price on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.64.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 1,007,496 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $411,407,221.68. The trade was a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the transaction, the insider now owns 576,023 shares in the company, valued at $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,167,451 shares of company stock valued at $1,603,067,889 over the last three months. 12.93% of the stock is currently owned by insiders.

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.