Garden State Investment Advisory Services LLC Grows Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Garden State Investment Advisory Services LLC grew its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 865.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 484,542 shares of the company’s stock after acquiring an additional 434,349 shares during the period. Palantir Technologies comprises approximately 5.0% of Garden State Investment Advisory Services LLC’s holdings, making the stock its largest position. Garden State Investment Advisory Services LLC’s holdings in Palantir Technologies were worth $18,025,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Summit Securities Group LLC bought a new position in shares of Palantir Technologies in the second quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies during the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the second quarter valued at approximately $30,000. Finally, Ashburton Jersey Ltd bought a new position in shares of Palantir Technologies in the second quarter worth approximately $36,000. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the sale, the director now owns 1,510,630 shares in the company, valued at $46,663,360.70. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,050 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.19, for a total value of $200,799.50. Following the completion of the transaction, the director now directly owns 158,280 shares of the company’s stock, valued at approximately $5,253,313.20. The trade was a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,163,181 shares of company stock valued at $1,603,288,758 in the last quarter. 12.93% of the stock is owned by insiders.

Palantir Technologies Trading Up 0.8 %

Palantir Technologies stock opened at $67.61 on Monday. The firm has a market capitalization of $154.02 billion, a PE ratio of 335.40, a price-to-earnings-growth ratio of 9.07 and a beta of 2.70. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $67.88. The firm has a 50-day moving average price of $48.86 and a 200-day moving average price of $35.05.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PLTR shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.