Savvy Advisors Inc. Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

Savvy Advisors Inc. bought a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,663 shares of the company’s stock, valued at approximately $248,000.

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

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $514,411.60. Following the sale, the director now directly owns 121,390 shares of the company’s stock, valued at $7,047,903.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,399,238 shares of company stock worth $1,041,851,557 over the last three months. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $60.70 on Thursday. The firm’s 50 day moving average price is $41.30 and its 200-day moving average price is $31.25. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $63.39. The company has a market cap of $135.93 billion, a PE ratio of 303.52 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $705.11 million. During the same period in the prior year, the firm posted $0.03 EPS. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. On average, analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on PLTR shares. Monness Crespi & Hardt decreased their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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.