Rehmann Capital Advisory Group Purchases Shares of 10,232 Palantir Technologies Inc. (NYSE:PLTR)

Rehmann Capital Advisory Group acquired a new position in Palantir Technologies Inc. (NYSE:PLTR) during the third quarter, according to its most recent filing with the SEC. The firm acquired 10,232 shares of the company’s stock, valued at approximately $381,000.

Several other hedge funds have also recently made changes to their positions in the business. Naples Global Advisors LLC raised its stake in Palantir Technologies by 11.1% in the second quarter. Naples Global Advisors LLC now owns 10,000 shares of the company’s stock worth $253,000 after buying an additional 1,000 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of Palantir Technologies by 10.4% in the 2nd quarter. Miracle Mile Advisors LLC now owns 15,010 shares of the company’s stock valued at $380,000 after purchasing an additional 1,420 shares during the period. Blue Trust Inc. boosted its position in shares of Palantir Technologies by 42.3% during the second quarter. Blue Trust Inc. now owns 16,646 shares of the company’s stock valued at $422,000 after purchasing an additional 4,945 shares in the last quarter. Brookstone Capital Management grew its stake in Palantir Technologies by 34.7% in the second quarter. Brookstone Capital Management now owns 31,975 shares of the company’s stock worth $810,000 after purchasing an additional 8,243 shares during the period. Finally, Gradient Investments LLC raised its holdings in Palantir Technologies by 21.4% in the second quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock worth $58,000 after purchasing an additional 406 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities boosted their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Bank of America lifted their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, DA Davidson increased their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.93.

Palantir Technologies Trading Up 1.0 %

Shares of NYSE PLTR opened at $73.20 on Friday. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $80.91. The firm has a market capitalization of $166.75 billion, a price-to-earnings ratio of 453.19, a price-to-earnings-growth ratio of 9.70 and a beta of 2.87. The firm has a 50 day moving average of $55.02 and a 200 day moving average of $38.01.

Palantir Technologies (NYSE:PLTR) last released 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 analyst estimates of $705.11 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. Sell-side analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,655 shares of Palantir Technologies stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $38.17, for a total value of $254,021.35. Following the sale, the director now directly owns 145,625 shares in the company, valued at approximately $5,558,506.25. The trade was a 4.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,252,313 shares of company stock valued at $1,967,089,241. Company insiders own 12.93% of the company’s stock.

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.