25,806 Shares in Palantir Technologies Inc. (NYSE:PLTR) Bought by Trust Asset Management LLC

Trust Asset Management LLC purchased a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,806 shares of the company’s stock, valued at approximately $960,000.

Several other institutional investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares during the last quarter. ARK Investment Management LLC lifted its stake in Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. Legal & General Group Plc grew its position in shares of Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after acquiring an additional 167,030 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Palantir Technologies by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock worth $185,575,000 after purchasing an additional 292,885 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 3.2 %

NYSE PLTR traded up $2.04 during trading on Monday, reaching $66.39. The company’s stock had a trading volume of 21,624,553 shares, compared to its average volume of 58,655,844. The firm has a 50 day moving average price of $45.94 and a 200 day moving average price of $33.48. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $67.88. The firm has a market capitalization of $151.24 billion, a price-to-earnings ratio of 321.77 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the company posted $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, Director Peter Thiel sold 4,254,666 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the completion of the sale, the director now directly owns 51,234,275 shares in the company, valued at $1,883,884,291.75. This represents a 7.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 1,620,395 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total value of $102,425,167.95. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $406,583,028.18. This represents a 20.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,167,451 shares of company stock worth $1,603,067,889. 12.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on PLTR shares. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Monness Crespi & Hardt dropped their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Six equities research 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.64.

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.