Franklin Resources Inc. Acquires 86,793 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Franklin Resources Inc. lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 102.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 171,653 shares of the company’s stock after purchasing an additional 86,793 shares during the period. Franklin Resources Inc.’s holdings in Palantir Technologies were worth $6,385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. Walter & Keenan Wealth Management LLC IN ADV grew its holdings in Palantir Technologies by 1.2% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after acquiring an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC lifted its position in shares of Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after purchasing an additional 250 shares in the last quarter. Quantum Private Wealth LLC grew its stake in shares of Palantir Technologies by 1.1% during the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after purchasing an additional 250 shares during the last quarter. Truvestments Capital LLC increased its holdings in shares of Palantir Technologies by 2.4% in the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after purchasing an additional 291 shares in the last quarter. Finally, LCM Capital Management Inc raised its position in Palantir Technologies by 0.9% in the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after purchasing an additional 300 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $80.55 on Monday. The stock’s 50-day moving average is $59.06 and its 200-day moving average is $40.39. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $80.91. The firm has a market cap of $183.49 billion, a P/E ratio of 402.77, a P/E/G ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results 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. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The business’s revenue was up 30.0% on a year-over-year basis. Equities analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on PLTR. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Mizuho upped their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Northland Securities increased their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.00.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 416,053 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $43,908.64. This represents a 99.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction on Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares in the company, valued at $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,605,711 shares of company stock worth $1,867,088,271. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.