Metis Global Partners LLC Acquires 41,609 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Metis Global Partners LLC boosted its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 181.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 64,528 shares of the company’s stock after purchasing an additional 41,609 shares during the period. Metis Global Partners LLC’s holdings in Palantir Technologies were worth $2,400,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Palantir Technologies by 1.6% during the 1st 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. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares in the last quarter. ARK Investment Management LLC raised its holdings in Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after purchasing an additional 277,623 shares in the last quarter. Legal & General Group Plc raised its holdings in Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after purchasing an additional 167,030 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Palantir Technologies by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock worth $185,575,000 after acquiring an additional 292,885 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This trade represents a 41.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 14,016 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the transaction, the insider now directly owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. This trade represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,562,840 shares of company stock worth $1,435,787,316 in the last ninety days. Company insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PLTR shares. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Finally, Bank of America raised their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Six investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.71.

Palantir Technologies Stock Up 11.2 %

Palantir Technologies stock opened at $65.81 on Friday. The stock has a market capitalization of $147.38 billion, a PE ratio of 329.07 and a beta of 2.70. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The company has a 50 day moving average of $43.19 and a 200-day moving average of $31.94.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. Equities analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

About Palantir Technologies

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.