NorthCrest Asset Manangement LLC Purchases 20,350 Shares of Palantir Technologies Inc. $PLTR

NorthCrest Asset Manangement LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 228.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,256 shares of the company’s stock after acquiring an additional 20,350 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Palantir Technologies were worth $5,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PLTR. Norges Bank acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at $3,307,457,000. Vanguard Group Inc. grew its position in Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after acquiring an additional 7,194,216 shares during the last quarter. State Street Corp lifted its holdings in shares of Palantir Technologies by 6.9% in the second quarter. State Street Corp now owns 94,481,128 shares of the company’s stock worth $12,879,667,000 after acquiring an additional 6,097,629 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Palantir Technologies by 16.0% during the 2nd quarter. Invesco Ltd. now owns 20,585,256 shares of the company’s stock valued at $2,806,182,000 after purchasing an additional 2,838,300 shares during the last quarter. Finally, Clear Street LLC bought a new position in Palantir Technologies in the 2nd quarter valued at approximately $295,508,000. 45.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Daiwa Capital Markets boosted their price objective on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Truist Financial began coverage on Palantir Technologies in a research report on Tuesday, January 6th. They issued a “buy” rating and a $223.00 price objective on the stock. CICC Research boosted their price target on shares of Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Jefferies Financial Group reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Finally, Bank of America raised their price target on Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $175.88.

Insider Activity

In related news, insider Shyam Sankar sold 149,872 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $24,577,509.28. Following the transaction, the insider owned 642,786 shares of the company’s stock, valued at approximately $105,410,476.14. This trade represents a 18.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the completion of the transaction, the insider owned 251,409 shares in the company, valued at $40,818,765.24. The trade was a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,023,444 shares of company stock worth $167,394,629. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 3.5%

NASDAQ PLTR opened at $170.96 on Tuesday. The stock’s 50 day moving average is $177.68 and its 200 day moving average is $172.56. Palantir Technologies Inc. has a twelve month low of $66.12 and a twelve month high of $207.52. The firm has a market capitalization of $407.47 billion, a PE ratio of 407.06, a P/E/G ratio of 4.30 and a beta of 1.54.

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

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.