Commonwealth Equity Services LLC Grows Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Commonwealth Equity Services LLC increased its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 8.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,453,575 shares of the company’s stock after purchasing an additional 115,575 shares during the period. Commonwealth Equity Services LLC owned approximately 0.07% of Palantir Technologies worth $54,073,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies during the 2nd quarter worth $25,000. West Paces Advisors Inc. grew its stake in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies during the 2nd quarter worth about $30,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 2.3 %

Shares of PLTR opened at $42.97 on Friday. The company’s 50 day simple moving average is $35.60 and its 200-day simple moving average is $28.10. The firm has a market cap of $96.23 billion, a PE ratio of 252.78 and a beta of 2.72. Palantir Technologies Inc. has a 12-month low of $14.48 and a 12-month high of $44.39.

Palantir Technologies (NYSE:PLTR) last issued its quarterly 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 return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PLTR. Wedbush upped their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Monness Crespi & Hardt reduced their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Citigroup boosted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Northland Securities began coverage on Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies presently 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.