Caprock Group LLC Buys 8,470 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Caprock Group LLC lifted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,743 shares of the company's stock after acquiring an additional 8,470 shares during the quarter. Caprock Group LLC's holdings in Palantir Technologies were worth $6,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. State of Alaska Department of Revenue grew its holdings in Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company's stock worth $13,786,000 after acquiring an additional 68,945 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company's stock valued at $20,146,000 after purchasing an additional 87,062 shares during the period. Tyler Stone Wealth Management boosted its position in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company's stock valued at $7,515,000 after purchasing an additional 99,921 shares in the last quarter. Heritage Wealth Management Inc. CA acquired a new stake in Palantir Technologies during the third quarter worth approximately $1,076,000. Finally, Cyndeo Wealth Partners LLC acquired a new stake in Palantir Technologies during the third quarter worth approximately $6,339,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on PLTR shares. 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. Wedbush increased their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. DA Davidson raised their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Monness Crespi & Hardt dropped their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a "sell" rating on the stock in a report on Tuesday, August 6th. Finally, Bank of America raised their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus price target of $31.71.

Palantir Technologies Stock Performance

PLTR traded up $1.71 during mid-day trading on Tuesday, reaching $62.97. 75,356,031 shares of the stock were exchanged, compared to its average volume of 58,815,414. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $66.00. The stock has a market capitalization of $143.45 billion, a PE ratio of 314.87 and a beta of 2.70. The company has a 50 day moving average price of $44.29 and a two-hundred day moving average price of $32.64.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 net margin of 18.01% and a return on equity of 9.94%. The company's revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alexander D. Moore sold 20,000 shares of the 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 transaction, the director now owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. This represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 14,016 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the sale, the insider now owns 576,023 shares in the company, valued at $17,666,625.41. This represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,551,467 shares of company stock valued at $1,435,420,536. Insiders own 12.93% of the company's stock.

Palantir Technologies 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.