Palumbo Wealth Management LLC Makes New $228,000 Investment in Palantir Technologies Inc. (NYSE:PLTR)

Palumbo Wealth Management LLC purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTRFree Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,139 shares of the company’s stock, valued at approximately $228,000.

Several other large investors have also recently made changes to their positions in PLTR. Vanguard Group Inc. increased its stake in shares of Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after buying an additional 3,029,317 shares during the period. ARK Investment Management LLC increased its stake in shares of Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after buying an additional 277,623 shares during the period. Legal & General Group Plc increased its stake in shares of Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after buying an additional 167,030 shares during the period. Nikko Asset Management Americas Inc. increased its stake in shares of Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after buying an additional 1,580,548 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Palantir Technologies by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock worth $185,575,000 after buying an additional 292,885 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 4.7 %

Palantir Technologies stock traded down $2.04 during mid-day trading on Thursday, hitting $41.65. The company had a trading volume of 14,823,808 shares, compared to its average volume of 56,013,473. The stock’s 50 day moving average price is $37.58 and its two-hundred day moving average price is $29.27. Palantir Technologies Inc. has a 12 month low of $14.48 and a 12 month high of $45.14. The company has a market capitalization of $93.27 billion, a PE ratio of 257.18 and a beta of 2.72.

Palantir Technologies (NYSE:PLTRGet Free Report) last released its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same period last year, the firm posted $0.01 earnings per share. The company’s revenue was up 27.2% compared to the same quarter last year. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on PLTR shares. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. DA Davidson upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Mizuho raised their target price on Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a research note on Thursday, October 17th. Finally, Wedbush upped their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.86.

View Our Latest Stock Analysis on Palantir Technologies

Insider Activity

In other news, insider Ryan D. Taylor sold 249,684 shares of the company’s stock in a transaction on Friday, August 9th. The stock was 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 of the company’s stock, valued at $11,180,675.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the transaction, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,204,508 shares of company stock valued at $802,654,666 over the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

About Palantir Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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