National Pension Service Increases Holdings in Palantir Technologies Inc. (NYSE:PLTR)

National Pension Service increased its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 22.6% during the third quarter, Holdings Channel.com reports. The firm owned 2,999,917 shares of the company’s stock after acquiring an additional 552,403 shares during the quarter. National Pension Service’s holdings in Palantir Technologies were worth $111,597,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the second quarter worth about $30,000. Finally, Beacon Capital Management LLC lifted its holdings in Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 1.2 %

Shares of Palantir Technologies stock opened at $41.41 on Tuesday. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $45.14. The firm has a market cap of $92.74 billion, a PE ratio of 243.60 and a beta of 2.70. The business has a 50-day moving average price of $38.19 and a 200 day moving average price of $29.75.

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

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the sale, the insider now directly owns 331,369 shares of the company’s stock, valued at $14,911,605. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,204,508 shares of company stock worth $802,654,666 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wedbush increased their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. DA Davidson lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Mizuho increased their price objective on shares of Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a research report on Thursday, October 17th. Finally, Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.86.

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.