Fifth Third Wealth Advisors LLC Increases Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Fifth Third Wealth Advisors LLC raised its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 166.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,941 shares of the company's stock after buying an additional 13,708 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Palantir Technologies were worth $816,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Walter & Keenan Wealth Management LLC IN ADV grew its stake in shares of Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company's stock worth $729,000 after buying an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC raised its position in shares of Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company's stock worth $3,251,000 after purchasing an additional 250 shares during the last quarter. Quantum Private Wealth LLC boosted its stake in Palantir Technologies by 1.1% in the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company's stock worth $865,000 after purchasing an additional 250 shares in the last quarter. LCM Capital Management Inc increased its stake in Palantir Technologies by 0.9% during the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company's stock valued at $1,207,000 after purchasing an additional 300 shares in the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV lifted its stake in shares of Palantir Technologies by 0.6% in the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company's stock worth $1,799,000 after buying an additional 300 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated 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 sale, the director now directly owns 1,510,630 shares of the company's stock, valued at $46,663,360.70. The trade was a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. The trade was a 6.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,597,056 shares of company stock worth $1,502,260,221. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Down 1.4 %

PLTR traded down $0.87 during trading on Wednesday, reaching $62.11. The company's stock had a trading volume of 58,991,743 shares, compared to its average volume of 58,816,992. The firm has a fifty day simple moving average of $44.83 and a two-hundred day simple moving average of $32.84. The company has a market cap of $141.49 billion, a price-to-earnings ratio of 310.57 and a beta of 2.70. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $66.00.

Palantir Technologies (NYSE:PLTR - Get Free Report) last issued its 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. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies's quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLTR. Northland Capmk upgraded Palantir Technologies to a "hold" rating in a research note on Thursday, August 22nd. 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. Bank of America lifted their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Mizuho increased their price objective on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an "underperform" rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $31.71.

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.