AlphaMark Advisors LLC Acquires 3,140 Shares of Palantir Technologies Inc. (NYSE:PLTR)

AlphaMark Advisors LLC boosted its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 371.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,985 shares of the company’s stock after purchasing an additional 3,140 shares during the period. AlphaMark Advisors LLC’s holdings in Palantir Technologies were worth $148,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. 1832 Asset Management L.P. grew its holdings in shares of Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after acquiring an additional 3,623,840 shares in the last quarter. Marshall Wace LLP increased its position in shares of Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after purchasing an additional 3,038,861 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after purchasing an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after buying an additional 1,980,495 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Palantir Technologies by 2,722.2% in the second quarter. National Bank of Canada FI now owns 1,716,830 shares of the company’s stock valued at $44,427,000 after buying an additional 1,655,997 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLTR. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Wedbush lifted their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. DA Davidson lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Finally, Bank of America increased their price target on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $27.86.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $42.95 on Friday. The firm has a market cap of $96.18 billion, a price-to-earnings ratio of 252.66 and a beta of 2.72. Palantir Technologies Inc. has a 52 week low of $14.48 and a 52 week high of $44.39. The firm’s 50-day simple moving average is $35.60 and its 200 day simple moving average is $28.06.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the transaction, the director now owns 138,304 shares of the company’s stock, valued at $6,071,545.60. The trade was 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 through this link. In other news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the sale, the director now owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,747,176 shares of company stock valued at $646,951,347. 12.93% of the stock is 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.