Penserra Capital Management LLC Acquires 10,567 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Penserra Capital Management LLC raised its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 24.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,106 shares of the company’s stock after buying an additional 10,567 shares during the period. Penserra Capital Management LLC’s holdings in Palantir Technologies were worth $1,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. One Charles Private Wealth Services LLC bought a new position in Palantir Technologies in the 3rd quarter valued at about $221,000. Cerity Partners LLC lifted its holdings in shares of Palantir Technologies by 42.4% in the third quarter. Cerity Partners LLC now owns 546,331 shares of the company’s stock valued at $20,324,000 after purchasing an additional 162,761 shares in the last quarter. Waddell & Associates LLC purchased a new position in shares of Palantir Technologies during the third quarter valued at approximately $255,000. Nicolet Advisory Services LLC boosted its position in shares of Palantir Technologies by 33.4% during the third quarter. Nicolet Advisory Services LLC now owns 9,733 shares of the company’s stock valued at $382,000 after buying an additional 2,435 shares during the last quarter. Finally, GenTrust LLC raised its position in Palantir Technologies by 56.9% in the 3rd quarter. GenTrust LLC now owns 36,675 shares of the company’s stock valued at $1,364,000 after buying an additional 13,300 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 14,016 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the transaction, the insider now owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. This represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 1,007,496 shares of Palantir Technologies stock in a transaction on Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. This represents a 13.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,167,451 shares of company stock valued at $1,603,067,889 in the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLTR. Wedbush lifted their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday. The Goldman Sachs Group upped their price objective 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. Monness Crespi & Hardt dropped their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies Trading Up 0.4 %

PLTR opened at $64.63 on Tuesday. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $67.88. The company has a market cap of $147.23 billion, a PE ratio of 323.17 and a beta of 2.70. The company has a 50 day moving average of $46.50 and a 200 day moving average of $33.78.

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

About Palantir Technologies

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.