Trust Asset Management LLC Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

Trust Asset Management LLC acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 25,806 shares of the company’s stock, valued at approximately $960,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Summit Securities Group LLC bought a new position in shares of Palantir Technologies during the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the second quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies in the 2nd quarter worth approximately $30,000. Finally, Beacon Capital Management LLC grew its holdings in shares of Palantir Technologies by 269.5% during the 1st 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 in the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Mizuho upped their target price on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Wedbush boosted their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Monness Crespi & Hardt reduced their price target 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. Finally, Citigroup raised their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.64.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 14,016 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the transaction, the insider now directly owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the transaction, the director now owns 1,510,630 shares in the company, valued at $46,663,360.70. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,167,451 shares of company stock valued at $1,603,067,889. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 3.2 %

PLTR stock traded up $2.04 during midday trading on Monday, reaching $66.39. The stock had a trading volume of 21,624,553 shares, compared to its average volume of 58,655,844. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $67.88. The business has a fifty day simple moving average of $45.94 and a two-hundred day simple moving average of $33.48. The firm has a market cap of $151.24 billion, a price-to-earnings ratio of 321.77 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. On average, equities analysts predict 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.