Paloma Partners Management Co Boosts Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Paloma Partners Management Co increased its position in Palantir Technologies Inc. (NYSE:PLTR) by 1,035.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 19,124 shares of the company’s stock after buying an additional 17,439 shares during the quarter. Paloma Partners Management Co’s holdings in Palantir Technologies were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its position in shares of Palantir Technologies by 49.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,012 shares of the company’s stock valued at $51,000 after buying an additional 665 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Palantir Technologies in the 2nd quarter worth $38,000. Mather Group LLC. boosted its holdings in shares of Palantir Technologies by 369.3% during the 2nd quarter. Mather Group LLC. now owns 1,572 shares of the company’s stock valued at $40,000 after purchasing an additional 1,237 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of Palantir Technologies by 169.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 38,906 shares of the company’s stock worth $985,000 after acquiring an additional 24,489 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Palantir Technologies by 8.9% in the 2nd quarter. Park Avenue Securities LLC now owns 105,576 shares of the company’s stock worth $2,674,000 after buying an additional 8,625 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $70.96 on Wednesday. The business has a fifty day moving average price of $50.11 and a 200-day moving average price of $35.72. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $71.37. The stock has a market capitalization of $161.65 billion, a price-to-earnings ratio of 354.82, a PEG ratio of 8.98 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last issued its quarterly 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 for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.74, for a total value of $674,800.00. Following the completion of the transaction, the insider now directly owns 576,023 shares in the company, valued at $19,435,016.02. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,423,181 shares of company stock worth $1,972,588,658. 12.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLTR. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Northland Capmk raised Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Northland Securities raised their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Finally, Bank of America increased their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Six 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.64.

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.