LPL Financial LLC Acquires 575,790 Shares of Palantir Technologies Inc. (NYSE:PLTR)

LPL Financial LLC raised its holdings in Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 22.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,100,520 shares of the company's stock after buying an additional 575,790 shares during the quarter. LPL Financial LLC owned 0.14% of Palantir Technologies worth $115,339,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. ProShare Advisors LLC bought a new position in shares of Palantir Technologies during the first quarter valued at about $262,000. UniSuper Management Pty Ltd lifted its holdings in shares of Palantir Technologies by 95.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 26,400 shares of the company's stock valued at $607,000 after buying an additional 12,900 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of Palantir Technologies during the 1st quarter valued at about $371,000. Axxcess Wealth Management LLC raised its holdings in Palantir Technologies by 32.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 17,027 shares of the company's stock worth $392,000 after purchasing an additional 4,123 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Palantir Technologies by 87.8% during the 1st quarter. Advisors Asset Management Inc. now owns 13,742 shares of the company's stock valued at $316,000 after acquiring an additional 6,426 shares during the period. 45.65% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares of the company's stock, valued at $5,535,378. The trade was a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Heather A. Planishek sold 14,016 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the sale, the insider now owns 576,023 shares in the company, valued at approximately $17,666,625.41. This trade represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,167,451 shares of company stock worth $1,603,067,889. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded up $2.99 during trading on Friday, hitting $64.35. 61,381,713 shares of the stock traded hands, compared to its average volume of 81,555,904. The company has a fifty day moving average price of $45.94 and a two-hundred day moving average price of $33.31. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The stock has a market cap of $146.59 billion, a P/E ratio of 321.67 and a beta of 2.70.

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, 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 business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the company posted $0.03 earnings per share. The firm's revenue for the quarter was up 30.0% on a year-over-year basis. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on PLTR shares. Argus cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Jefferies Financial Group cut Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Northland Capmk raised shares of Palantir Technologies to a "hold" rating in a report on Thursday, August 22nd. The Goldman Sachs Group boosted their price objective 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. Finally, 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. 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 data from MarketBeat, the company 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.