Oppenheimer & Co. Inc. raised its stake in Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 19.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 541,567 shares of the company’s stock after acquiring an additional 87,062 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Palantir Technologies were worth $20,146,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of PLTR. State of Alaska Department of Revenue grew its holdings in shares of Palantir Technologies by 22.9% in 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 acquiring an additional 68,945 shares in the last quarter. Tyler Stone Wealth Management increased its stake in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after purchasing an additional 99,921 shares during the last quarter. Heritage Wealth Management Inc. CA bought a new stake in Palantir Technologies in the third quarter valued at approximately $1,076,000. Cyndeo Wealth Partners LLC acquired a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $6,339,000. Finally, Seven Grand Managers LLC bought a new stake in Palantir Technologies in the 3rd quarter valued at $930,000. 45.65% of the stock is owned by institutional investors.
Insider Activity
In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the sale, the director now owns 152,280 shares of the company’s stock, valued at approximately $5,535,378. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,399,238 shares of company stock worth $1,041,851,557 in the last quarter. 12.93% of the stock is owned by corporate insiders.
Palantir Technologies Price Performance
Shares of PLTR traded up $0.85 during trading hours on Wednesday, hitting $60.70. 85,772,339 shares of the stock were exchanged, compared to its average volume of 57,936,465. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $63.39. The business has a 50-day moving average of $41.30 and a 200-day moving average of $31.25. The firm has a market capitalization of $135.93 billion, a P/E ratio of 312.67 and a beta of 2.70.
Palantir Technologies (NYSE:PLTR – Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the company posted $0.03 EPS. The business’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Mizuho raised their price objective on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, DA Davidson upped their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.71.
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.