RIA Advisory Group LLC Takes $2.05 Million Position in Palantir Technologies Inc. (NYSE:PLTR)

RIA Advisory Group LLC bought a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 54,982 shares of the company’s stock, valued at approximately $2,045,000. Palantir Technologies makes up approximately 0.7% of RIA Advisory Group LLC’s portfolio, making the stock its 20th largest position.

Several other large investors have also recently bought and sold shares of the stock. Empowered Funds LLC lifted its stake in Palantir Technologies by 32.0% in the first quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock valued at $569,000 after acquiring an additional 6,002 shares during the last quarter. Sei Investments Co. lifted its stake in Palantir Technologies by 20.1% in the 1st quarter. Sei Investments Co. now owns 299,667 shares of the company’s stock valued at $6,895,000 after purchasing an additional 50,159 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Palantir Technologies by 6.7% during the first quarter. Russell Investments Group Ltd. now owns 400,091 shares of the company’s stock worth $9,300,000 after purchasing an additional 25,258 shares during the period. ProShare Advisors LLC acquired a new position in Palantir Technologies during the first quarter worth approximately $262,000. Finally, Orion Portfolio Solutions LLC raised its stake in Palantir Technologies by 7.2% in the first quarter. Orion Portfolio Solutions LLC now owns 58,715 shares of the company’s stock valued at $1,351,000 after buying an additional 3,922 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. The trade was a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now owns 152,280 shares of the company’s stock, valued at approximately $5,535,378. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,562,840 shares of company stock worth $1,435,787,316 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PLTR. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. Bank of America upped their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group raised their target price 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. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, DA Davidson raised their price objective 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. 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 stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Trading Up 11.1 %

NYSE PLTR opened at $65.77 on Friday. The company has a market cap of $147.29 billion, a price-to-earnings ratio of 329.07 and a beta of 2.70. The company has a 50 day moving average of $43.19 and a 200-day moving average of $31.94. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $66.00.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data 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 analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’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 EPS. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share 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.