Ithaka Group LLC Buys New Shares in Palantir Technologies Inc. (NYSE:PLTR)

Ithaka Group LLC bought a new position in Palantir Technologies Inc. (NYSE:PLTR - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 115,365 shares of the company's stock, valued at approximately $4,292,000.

Several other large investors have also recently bought and sold shares of the company. Raymond James Trust N.A. raised its stake in shares of Palantir Technologies by 172.1% during the third quarter. Raymond James Trust N.A. now owns 25,920 shares of the company's stock valued at $964,000 after acquiring an additional 16,395 shares during the last quarter. Concorde Asset Management LLC raised its position in Palantir Technologies by 5.9% during the 3rd quarter. Concorde Asset Management LLC now owns 20,479 shares of the company's stock worth $762,000 after purchasing an additional 1,135 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in Palantir Technologies by 21.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 84,271 shares of the company's stock worth $3,135,000 after buying an additional 14,740 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock valued at $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Finally, Banco Santander S.A. increased its stake in shares of Palantir Technologies by 477.6% in the third quarter. Banco Santander S.A. now owns 53,511 shares of the company's stock valued at $1,991,000 after buying an additional 44,246 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the topic of several analyst reports. Northland Securities upped their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a "market perform" rating in a report on Tuesday, November 5th. DA Davidson increased their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an "underperform" rating and set a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. The Goldman Sachs Group increased their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, Northland Capmk raised Palantir Technologies to a "hold" rating in a research report on Thursday, August 22nd. Six 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. According to data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus price target of $31.71.

Palantir Technologies Trading Up 4.9 %

NYSE PLTR traded up $2.99 during mid-day trading on Friday, hitting $64.35. The company's stock had a trading volume of 61,140,844 shares, compared to its average volume of 58,817,914. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The firm has a market capitalization of $146.59 billion, a price-to-earnings ratio of 320.22 and a beta of 2.70. The company's 50 day simple moving average is $45.36 and its 200 day simple moving average is $33.04.

Palantir Technologies (NYSE:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company's revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the transaction, the director now owns 1,510,630 shares of the company's stock, valued at approximately $46,663,360.70. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the 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 completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. This trade represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,547,056 shares of company stock worth $1,500,642,721 in the last quarter. Insiders own 12.93% of the company's stock.

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.