GLOBALT Investments LLC GA Raises Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

GLOBALT Investments LLC GA grew its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,240 shares of the company’s stock after acquiring an additional 1,071 shares during the period. GLOBALT Investments LLC GA’s holdings in Palantir Technologies were worth $1,274,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PLTR. Summit Securities Group LLC acquired a new stake in Palantir Technologies in the 2nd quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies in the second quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies in the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies during the 2nd quarter worth approximately $30,000. Finally, Beacon Capital Management LLC raised its position in shares of Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the topic of a number of analyst reports. Citigroup increased their target price on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Northland Securities lifted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, Wedbush upped their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Six 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.71.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the transaction, the insider now directly owns 576,023 shares in the company, valued at $17,666,625.41. This trade represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,551,467 shares of company stock worth $1,435,420,536. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 6.9 %

PLTR stock opened at $61.25 on Tuesday. The company has a market cap of $139.53 billion, a price-to-earnings ratio of 306.27 and a beta of 2.70. The business has a fifty day simple moving average of $43.72 and a 200-day simple moving average of $32.36. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $66.00.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 earnings per share. As a group, analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

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.