Adalta Capital Management LLC Makes New $97,000 Investment in Palantir Technologies Inc. (NYSE:PLTR)

Adalta Capital Management LLC purchased a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,600 shares of the company’s stock, valued at approximately $97,000.

A number of other institutional investors have also modified their holdings of the business. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the third quarter valued at approximately $25,000. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies during the 2nd quarter valued at approximately $25,000. Creekmur Asset Management LLC grew its stake in Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after buying an additional 335 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE increased its position in Palantir Technologies by 47.5% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock worth $44,000 after buying an additional 380 shares during the period. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent research reports. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a report on Thursday, November 7th. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $35.64.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 5,250,000 shares of the business’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 transaction of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,397,131 shares of company stock valued at $1,971,713,059. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 6.2 %

NYSE:PLTR opened at $76.34 on Monday. The business’s 50-day moving average price is $52.25 and its 200 day moving average price is $36.80. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $76.82. The firm has a market cap of $173.90 billion, a P/E ratio of 381.72, a PEG ratio of 10.29 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data 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 company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue was up 30.0% compared to the same quarter last year. Sell-side analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current 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.