McBroom & Associates LLC Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

McBroom & Associates LLC acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 72,680 shares of the company’s stock, valued at approximately $2,704,000. Palantir Technologies accounts for about 1.7% of McBroom & Associates LLC’s portfolio, making the stock its 20th largest position.

Several other hedge funds have also modified their holdings of the stock. Summit Securities Group LLC purchased a new stake in Palantir Technologies during the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at about $25,000. West Paces Advisors Inc. grew its holdings in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $30,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 2.3 %

Shares of Palantir Technologies stock opened at $42.97 on Friday. The business has a 50-day moving average price of $35.60 and a 200 day moving average price of $28.10. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $44.39. The firm has a market cap of $96.23 billion, a P/E ratio of 252.78 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same quarter last year, the firm posted $0.01 earnings per share. Palantir Technologies’s revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were 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 of the company’s stock, valued at $6,071,545.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palantir Technologies news, 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 sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 17,747,176 shares of company stock worth $646,951,347. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. DA Davidson raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Citigroup lifted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Wedbush boosted their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Bank of America lifted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.86.

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.