PFG Investments LLC Acquires 11,483 Shares of Palantir Technologies Inc. (NYSE:PLTR)

PFG Investments LLC grew its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 15.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 87,119 shares of the company’s stock after purchasing an additional 11,483 shares during the period. PFG Investments LLC’s holdings in Palantir Technologies were worth $3,241,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PLTR. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the third quarter valued at about $25,000. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies during the 2nd quarter worth approximately $30,000. Finally, Ashburton Jersey Ltd bought a new position in Palantir Technologies in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

NYSE PLTR traded up $1.30 during mid-day trading on Friday, reaching $44.86. 50,416,491 shares of the stock were exchanged, compared to its average volume of 56,568,254. The stock has a 50 day simple moving average of $36.86 and a 200-day simple moving average of $28.77. Palantir Technologies Inc. has a one year low of $14.48 and a one year high of $45.07. The stock has a market cap of $99.90 billion, a P/E ratio of 373.75 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the sale, the director now directly owns 138,304 shares in the company, valued at approximately $6,071,545.60. 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 news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the sale, the director now owns 138,304 shares in the company, valued at $6,071,545.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $24,352,627.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,747,176 shares of company stock worth $646,951,347 in the last quarter. Company insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PLTR shares. Citigroup boosted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Monness Crespi & Hardt reduced their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Northland Securities initiated coverage on Palantir Technologies in a research report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 target price for the company. Bank of America boosted their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.86.

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.