Venturi Wealth Management LLC Increases Position in Palantir Technologies Inc. (NYSE:PLTR)

Venturi Wealth Management LLC grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 56.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,799 shares of the company’s stock after purchasing an additional 6,066 shares during the period. Venturi Wealth Management LLC’s holdings in Palantir Technologies were worth $625,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research note on Thursday, November 7th. Monness Crespi & Hardt decreased their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Bank of America lifted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $59.87 on Wednesday. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $62.08. The business’s fifty day moving average is $40.71 and its 200 day moving average is $30.98. The stock has a market capitalization of $134.08 billion, a PE ratio of 299.36 and a beta of 2.70.

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

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the transaction, the director now directly owns 121,390 shares in the company, valued at $7,047,903.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. This trade represents a 0.00 % decrease in their position. The transaction 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 8,860 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $514,411.60. Following the transaction, the director now directly owns 121,390 shares in the company, valued at $7,047,903.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,399,238 shares of company stock valued at $1,041,851,557. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Company 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.