Parcion Private Wealth LLC Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

Parcion Private Wealth LLC acquired a new stake 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 17,802 shares of the company’s stock, valued at approximately $662,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PLTR shares. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Monness Crespi & Hardt dropped their price target 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. Finally, Wedbush boosted their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.86.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the transaction, the director now owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $39.95, for a total transaction of $799,000.00. Following the completion of the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the transaction, the director now owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,747,176 shares of company stock valued at $646,951,347 in the last three months. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $44.85 on Friday. The stock has a fifty day simple moving average of $36.86 and a two-hundred day simple moving average of $28.77. The firm has a market capitalization of $99.88 billion, a PE ratio of 373.75 and a beta of 2.72. Palantir Technologies Inc. has a 52-week low of $14.48 and a 52-week high of $45.07.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (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 analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 EPS. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

About Palantir Technologies

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.