Palantir Technologies Inc. (NYSE:PLTR) Shares Purchased by Colonial River Investments LLC

Colonial River Investments LLC raised its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 78.7% in the 3rd quarter, Holdings Channel reports. The firm owned 24,434 shares of the company’s stock after purchasing an additional 10,763 shares during the quarter. Colonial River Investments LLC’s holdings in Palantir Technologies were worth $909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the third quarter worth about $25,000. Summit Securities Group LLC bought a new position in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $25,000. Creekmur Asset Management LLC lifted its holdings in shares of Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after purchasing an additional 335 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies during the 2nd quarter valued at approximately $30,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $58.39 on Friday. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $58.48. The business’s fifty day moving average is $40.13 and its 200-day moving average is $30.65. The stock has a market cap of $130.76 billion, a PE ratio of 291.96 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. 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 previous year, the company earned $0.03 earnings per share. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. Equities research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. 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 research note on Tuesday, September 10th. Wedbush boosted their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. DA Davidson upped their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.71.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the sale, the insider now owns 562,006 shares in the company, valued at approximately $28,077,819.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,482,878 shares of company stock worth $1,044,202,496 in the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

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.