Empowered Funds LLC Grows Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Empowered Funds LLC lifted its holdings in Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 156.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 73,095 shares of the company's stock after acquiring an additional 44,571 shares during the quarter. Empowered Funds LLC's holdings in Palantir Technologies were worth $2,719,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the second quarter worth $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the second quarter worth $30,000. Finally, Beacon Capital Management LLC increased its stake in shares of Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company's stock worth $35,000 after buying an additional 1,105 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 50,000 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the sale, the insider now owns 752,786 shares of the company's stock, valued at $24,352,627.10. This represents a 6.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander C. Karp sold 1,823,602 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the sale, the insider now directly owns 6,432,258 shares of the company's stock, valued at $406,004,124.96. The trade was a 22.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,551,467 shares of company stock worth $1,435,420,536. Company insiders own 12.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PLTR shares. Northland Securities lifted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 5th. Raymond James downgraded shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a research report on Monday, September 23rd. Argus downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Northland Capmk raised shares of Palantir Technologies to a "hold" rating in a research report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a "sell" rating in a research report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $31.71.

Palantir Technologies Stock Down 2.6 %

PLTR traded down $1.61 during midday trading on Wednesday, hitting $61.37. 36,609,187 shares of the company traded hands, compared to its average volume of 58,713,879. The firm has a market capitalization of $139.80 billion, a PE ratio of 303.87 and a beta of 2.70. The company's 50-day moving average is $44.29 and its 200 day moving average is $32.64. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $66.00.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts' expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

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.