Palantir Technologies Inc. (NYSE:PLTR) Stock Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 320.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 296,176 shares of the company’s stock after purchasing an additional 225,739 shares during the period. CIBC Asset Management Inc’s holdings in Palantir Technologies were worth $11,018,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in Palantir Technologies during the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the 2nd quarter worth approximately $30,000. Finally, Beacon Capital Management LLC grew 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 worth $35,000 after purchasing an additional 1,105 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the transaction, the director now owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $405,875,479.80. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,562,840 shares of company stock valued at $1,435,787,316. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $65.77 on Friday. The firm has a market cap of $147.29 billion, a price-to-earnings ratio of 328.87 and a beta of 2.70. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $66.00. The firm has a fifty day moving average price of $43.19 and a two-hundred day moving average price of $32.01.

Palantir Technologies (NYSE:PLTR) last released 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 firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLTR. DA Davidson lifted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Bank of America boosted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Monness Crespi & Hardt lowered their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Finally, Jefferies Financial Group cut shares of 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. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.71.

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.