Patriot Financial Group Insurance Agency LLC Acquires 18,395 Shares of Palantir Technologies Inc. $PLTR

Patriot Financial Group Insurance Agency LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 138.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 31,635 shares of the company’s stock after purchasing an additional 18,395 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Palantir Technologies were worth $5,771,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 3.6% during the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after buying an additional 7,194,216 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock valued at $73,204,000 after acquiring an additional 21,809 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of Palantir Technologies by 1.3% during the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock valued at $127,923,000 after acquiring an additional 12,300 shares in the last quarter. Presilium Private Wealth LLC bought a new stake in Palantir Technologies during the 2nd quarter worth $204,000. Finally, New Century Financial Group LLC acquired a new position in Palantir Technologies in the 2nd quarter worth about $228,000. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLTR. The Goldman Sachs Group upped their price objective on Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. CICC Research boosted their target price on shares of Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Northland Securities upped their price target on shares of Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. UBS Group lifted their price target on shares of Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, Piper Sandler boosted their price objective on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $172.28.

Palantir Technologies Price Performance

Shares of PLTR opened at $185.69 on Friday. Palantir Technologies Inc. has a one year low of $63.40 and a one year high of $207.52. The company has a market cap of $442.58 billion, a PE ratio of 442.13, a P/E/G ratio of 6.87 and a beta of 1.49. The stock has a 50-day moving average of $179.38 and a 200-day moving average of $164.99.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $0.10 EPS. Palantir Technologies’s quarterly revenue was up 62.8% compared to the same quarter last year. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 308,635 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the transaction, the insider directly owned 592 shares in the company, valued at approximately $97,082.08. The trade was a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 149,872 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $24,577,509.28. Following the completion of the transaction, the insider owned 642,786 shares in the company, valued at $105,410,476.14. The trade was a 18.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,008,844 shares of company stock worth $164,750,951. Company insiders own 9.23% of the company’s stock.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.