DRW Securities LLC Buys New Holdings in Palantir Technologies Inc. (NYSE:PLTR)

DRW Securities LLC purchased a new position in Palantir Technologies Inc. (NYSE:PLTR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,722 shares of the company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies in the 2nd quarter worth $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies during the second quarter valued at about $30,000. Finally, Beacon Capital Management LLC boosted its holdings in shares of Palantir Technologies by 269.5% during the first 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 during the period. Institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the sale, the director now owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 6,050 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.19, for a total value of $200,799.50. Following the transaction, the director now directly owns 158,280 shares in the company, valued at approximately $5,253,313.20. The trade was a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,163,181 shares of company stock valued at $1,603,288,758. Insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on PLTR shares. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Bank of America upped their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Northland Securities upped their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research note on Thursday, November 7th. Six equities 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. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $35.64.

Palantir Technologies Stock Up 0.5 %

Palantir Technologies stock opened at $66.05 on Thursday. The stock’s 50 day moving average is $47.68 and its 200 day moving average is $34.33. The company has a market capitalization of $150.46 billion, a P/E ratio of 330.25 and a beta of 2.70. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $67.88.

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, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $0.03 earnings per share. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

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.