Concorde Asset Management LLC Has $762,000 Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Concorde Asset Management LLC lifted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,479 shares of the company’s stock after purchasing an additional 1,135 shares during the quarter. Concorde Asset Management LLC’s holdings in Palantir Technologies were worth $762,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies in the third quarter valued at about $25,000. Summit Securities Group LLC acquired a new stake in Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in Palantir Technologies in the second quarter valued at about $25,000. Creekmur Asset Management LLC boosted its stake in Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after buying an additional 335 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE boosted its stake in Palantir Technologies by 47.5% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock valued at $44,000 after buying an additional 380 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $61.36 on Friday. The company has a market cap of $139.77 billion, a P/E ratio of 306.79 and a beta of 2.70. The stock has a 50 day simple moving average of $45.36 and a two-hundred day simple moving average of $33.04. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $66.00.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate 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 for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. On average, research analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the sale, the insider now owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. This trade represents a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 155,539 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total value of $5,446,975.78. Following the completion of the sale, the insider now directly owns 331,369 shares of the company’s stock, valued at $11,604,542.38. This trade represents a 31.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,547,056 shares of company stock worth $1,500,642,721. 12.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on PLTR shares. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Six investment 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. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $31.71.

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.