Larson Financial Group LLC Boosts Stake in Palantir Technologies Inc. (NYSE:PLTR)

Larson Financial Group LLC lifted its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 70.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,756 shares of the company’s stock after purchasing an additional 4,441 shares during the quarter. Larson Financial Group LLC’s holdings in Palantir Technologies were worth $400,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PLTR. International Assets Investment Management LLC boosted its holdings in Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after acquiring an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. increased its position in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the period. Marshall Wace LLP increased its position in shares of Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after buying an additional 3,038,861 shares during the period. Principal Financial Group Inc. raised its position in shares of Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock worth $105,636,000 after acquiring an additional 1,969,213 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Palantir Technologies by 2,722.2% in the second quarter. National Bank of Canada FI now owns 1,716,830 shares of the company’s stock worth $44,427,000 after purchasing an additional 1,655,997 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In related news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the transaction, the director now owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were 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 approximately $17,666,625.41. This represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,167,451 shares of company stock valued at $1,603,067,889 over the last three months. 12.93% of the stock is owned by company insiders.

Palantir Technologies Trading Up 1.7 %

Shares of PLTR stock opened at $65.74 on Wednesday. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $67.88. The stock’s 50-day moving average price is $47.09 and its 200-day moving average price is $34.10. The stock has a market capitalization of $149.76 billion, a price-to-earnings ratio of 328.72 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its earnings results 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. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 EPS. As a group, research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the subject of a number of analyst reports. Wedbush raised their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.64.

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.