Quantinno Capital Management LP Boosts Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Quantinno Capital Management LP boosted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 335.0% in the third quarter, Holdings Channel.com reports. The fund owned 115,698 shares of the company’s stock after acquiring an additional 89,098 shares during the quarter. Quantinno Capital Management LP’s holdings in Palantir Technologies were worth $4,304,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after buying an additional 68,945 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after buying an additional 87,062 shares during the period. Tyler Stone Wealth Management lifted its holdings in shares of Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after buying an additional 99,921 shares during the period. Finally, Boston Family Office LLC lifted its holdings in shares of Palantir Technologies by 48.0% in the 3rd quarter. Boston Family Office LLC now owns 37,000 shares of the company’s stock worth $1,376,000 after buying an additional 12,000 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity

In other news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the company’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 completion of the sale, the director now owns 152,280 shares in the company, valued at $5,535,378. The trade was a 3.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,397,131 shares of company stock valued at $1,971,713,059. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $76.34 on Monday. The business’s 50-day moving average is $52.25 and its 200 day moving average is $36.69. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $76.82. The firm has a market capitalization of $173.90 billion, a P/E ratio of 381.72, a P/E/G ratio of 9.41 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 for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. On average, analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PLTR shares. Bank of America upped their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Mizuho upped their target price on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a report on Tuesday, November 5th. DA Davidson upped their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 4th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus 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.