Estate Counselors LLC Boosts Stake in Palantir Technologies Inc. (NYSE:PLTR)

Estate Counselors LLC raised its position in Palantir Technologies Inc. (NYSE:PLTR) by 333.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 148,405 shares of the company’s stock after buying an additional 114,150 shares during the period. Palantir Technologies accounts for 0.6% of Estate Counselors LLC’s investment portfolio, making the stock its 22nd biggest holding. Estate Counselors LLC’s holdings in Palantir Technologies were worth $5,521,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after acquiring an additional 87,062 shares during the period. Tyler Stone Wealth Management grew its position in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after acquiring an additional 99,921 shares during the period. Finally, Heritage Wealth Management Inc. CA bought a new position in shares of Palantir Technologies during the 3rd quarter valued at approximately $1,076,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $64.35 on Friday. The firm has a fifty day moving average price of $45.94 and a two-hundred day moving average price of $33.39. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $66.00. The company has a market cap of $146.59 billion, a price-to-earnings ratio of 321.77 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 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the firm earned $0.03 EPS. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. Equities research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Mizuho increased their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Wedbush increased their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Bank of America increased their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Monness Crespi & Hardt cut 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. 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.71.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the sale, the director now owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the sale, the insider now owns 576,023 shares in the company, valued at approximately $17,666,625.41. This trade represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,167,451 shares of company stock valued at $1,603,067,889 in the last three months. Company insiders own 12.93% of the company’s stock.

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.