PFG Investments LLC Raises Holdings in Palantir Technologies Inc. (NYSE:PLTR)

PFG Investments LLC grew its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 15.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,119 shares of the company's stock after acquiring an additional 11,483 shares during the quarter. PFG Investments LLC's holdings in Palantir Technologies were worth $3,241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Arkadios Wealth Advisors grew its position in Palantir Technologies by 28.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 135,390 shares of the company's stock worth $5,037,000 after acquiring an additional 29,806 shares during the last quarter. Forsta AP Fonden boosted its stake in shares of Palantir Technologies by 21.3% during the third quarter. Forsta AP Fonden now owns 511,000 shares of the company's stock valued at $19,009,000 after purchasing an additional 89,900 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Palantir Technologies by 2,252.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,645 shares of the company's stock worth $6,323,000 after purchasing an additional 164,349 shares during the last quarter. Parcion Private Wealth LLC acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $662,000. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $4,218,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of NYSE:PLTR traded up $1.30 during midday trading on Friday, hitting $44.86. 50,416,491 shares of the company's stock were exchanged, compared to its average volume of 56,568,254. The company has a market cap of $99.90 billion, a PE ratio of 373.83 and a beta of 2.72. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $45.07. The stock has a 50 day moving average price of $36.86 and a 200-day moving average price of $28.81.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the prior year, the business earned $0.01 EPS. The firm's revenue for the quarter was up 27.2% compared to the same quarter last year. On average, analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now owns 65,989 shares in the company, valued at approximately $1,744,089.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares of the company's stock, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 249,684 shares of the business's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the transaction, the insider now directly owns 372,565 shares in the company, valued at $11,180,675.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,747,176 shares of company stock worth $646,951,347 over the last quarter. Insiders own 12.93% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of research reports. Royal Bank of Canada reissued an "underperform" rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a "sell" rating in a research note on Tuesday, August 6th. DA Davidson raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 6th. Bank of America upped their price target on Palantir Technologies from $30.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Finally, Northland Capmk raised Palantir Technologies to a "hold" rating in a research note on Thursday, August 22nd. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average price target of $27.86.

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.