Victory Capital Management Inc. Acquires 22,672 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Victory Capital Management Inc. grew its stake in Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 682,748 shares of the company's stock after acquiring an additional 22,672 shares during the quarter. Victory Capital Management Inc.'s holdings in Palantir Technologies were worth $25,398,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the 3rd quarter worth approximately $25,000. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter worth about $25,000. Creekmur Asset Management LLC grew its holdings in shares of Palantir Technologies by 46.0% during the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company's stock worth $40,000 after buying an additional 335 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies in the 2nd quarter valued at approximately $30,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Raymond James downgraded Palantir Technologies from an "outperform" rating to a "market perform" rating in a research report on Monday, September 23rd. Jefferies Financial Group downgraded shares of Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a "sell" rating in a research note on Tuesday, August 6th. Royal Bank of Canada restated an "underperform" rating and set a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Northland Securities lifted their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a "market perform" rating in a research report on Tuesday, November 5th. Six research 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's stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average price target of $31.71.

Palantir Technologies Trading Down 6.2 %

Shares of NYSE:PLTR traded down $4.05 on Monday, reaching $61.72. 108,299,758 shares of the company's stock were exchanged, compared to its average volume of 58,609,289. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The company has a fifty day moving average of $43.19 and a 200-day moving average of $32.08. The company has a market capitalization of $138.22 billion, a price-to-earnings ratio of 307.22 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share 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 analysts' expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company'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 EPS. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Heather A. Planishek sold 14,016 shares of Palantir Technologies stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $30.67, for a total value of $429,870.72. Following the transaction, the insider now owns 576,023 shares in the company, valued at $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 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 in the company, valued at approximately $24,352,627.10. The trade was a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,562,840 shares of company stock worth $1,435,787,316. 12.93% of the stock is currently owned by corporate insiders.

About Palantir Technologies

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.