Prime Capital Investment Advisors LLC Raises Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Prime Capital Investment Advisors LLC grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 21.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 307,449 shares of the company’s stock after acquiring an additional 54,504 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Palantir Technologies were worth $11,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the third quarter valued at $25,000. Summit Securities Group LLC purchased a new stake in Palantir Technologies in the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the second quarter valued at approximately $25,000. Creekmur Asset Management LLC raised its position in shares of Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after purchasing an additional 335 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the second quarter valued at about $30,000. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PLTR. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. 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 company a “market perform” rating in a report on Tuesday, November 5th. Wedbush raised their price objective on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. DA Davidson lifted their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.71.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $353,967,157.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the transaction, the insider now owns 562,006 shares in the company, valued at approximately $28,077,819.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,462,878 shares of company stock worth $1,043,597,696. Insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 1.7 %

Shares of PLTR stock traded down $1.02 during trading hours on Tuesday, reaching $59.22. 17,013,194 shares of the stock were exchanged, compared to its average volume of 57,597,871. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $62.08. The firm has a market capitalization of $132.62 billion, a price-to-earnings ratio of 301.37 and a beta of 2.70. The company’s 50-day moving average price is $40.71 and its 200-day moving average price is $30.98.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up 30.0% on a year-over-year basis. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current 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.