Balboa Wealth Partners Has $2.86 Million Position in Palantir Technologies Inc. (NYSE:PLTR)

Balboa Wealth Partners grew its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 28.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 76,881 shares of the company’s stock after buying an additional 16,917 shares during the quarter. Palantir Technologies comprises approximately 0.7% of Balboa Wealth Partners’ portfolio, making the stock its 25th largest holding. Balboa Wealth Partners’ holdings in Palantir Technologies were worth $2,860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after buying an additional 3,623,840 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after acquiring an additional 3,038,861 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after acquiring an additional 3,029,317 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after buying an additional 1,969,213 shares during the period. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Monness Crespi & Hardt reduced their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. DA Davidson raised their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Mizuho lifted their price target on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.71.

Insider Activity at Palantir Technologies

In other Palantir Technologies 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 completion of the sale, the director now directly owns 121,390 shares of the company’s stock, valued at $7,047,903.40. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. The trade was a 6.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,239,238 shares of company stock worth $1,036,731,557 in the last three months. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Down 2.5 %

PLTR opened at $59.19 on Friday. The stock has a fifty day moving average of $42.48 and a 200-day moving average of $31.65. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $63.39. The firm has a market capitalization of $132.55 billion, a P/E ratio of 295.96 and a beta of 2.70.

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 company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

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.