Palantir Technologies Inc. (NYSE:PLTR) Shares Purchased by Empower Advisory Group LLC

Empower Advisory Group LLC grew its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 30.6% in the 3rd quarter, Holdings Channel reports. The fund owned 11,285 shares of the company’s stock after acquiring an additional 2,644 shares during the period. Empower Advisory Group LLC’s holdings in Palantir Technologies were worth $420,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Securities Group LLC purchased a new stake in Palantir Technologies during the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies in the second quarter worth $25,000. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies in the third quarter valued at $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies in the second quarter valued at $30,000. Finally, Beacon Capital Management LLC boosted its stake in Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after acquiring an additional 1,105 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Citigroup upped their price objective on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Northland Securities lifted their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.71.

Palantir Technologies Price Performance

PLTR opened at $59.19 on Friday. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $63.39. The stock’s 50 day moving average price is $41.90 and its 200 day moving average price is $31.45. The stock has a market cap of $132.55 billion, a P/E ratio of 295.95 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. Equities analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Activity

In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now directly 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. Insiders sold 25,239,238 shares of company stock worth $1,036,731,557 over the last three months. Corporate insiders own 12.93% of the company’s stock.

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.