Fmr LLC Raises Stake in Palantir Technologies Inc. (NYSE:PLTR)

Fmr LLC grew its stake in Palantir Technologies Inc. (NYSE:PLTR) by 8.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,478,281 shares of the company’s stock after acquiring an additional 1,004,603 shares during the quarter. Fmr LLC owned about 0.56% of Palantir Technologies worth $464,192,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PLTR. Summit Securities Group LLC purchased a new position in Palantir Technologies in the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies during the 2nd quarter worth $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies in the 2nd quarter valued at about $30,000. Finally, Ashburton Jersey Ltd acquired a new position in Palantir Technologies in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity

In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.35, for a total value of $218,100.00. Following the transaction, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. This represents a 3.79 % decrease in their position. 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. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Shares of PLTR opened at $67.08 on Friday. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $67.88. The stock has a market cap of $152.81 billion, a PE ratio of 335.42, a price-to-earnings-growth ratio of 8.93 and a beta of 2.70. The firm has a fifty day moving average price of $48.86 and a 200 day moving average price of $34.87.

Palantir Technologies (NYSE:PLTR) last posted its 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 business 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 business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PLTR. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Thursday, November 7th. Mizuho raised their price target on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Wedbush boosted their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Northland Securities raised their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.64.

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.