Park Avenue Securities LLC Increases Position in Palantir Technologies Inc. (NYSE:PLTR)

Park Avenue Securities LLC raised its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 21.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,221 shares of the company’s stock after buying an additional 22,645 shares during the period. Park Avenue Securities LLC’s holdings in Palantir Technologies were worth $4,770,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Bank of America boosted their price objective on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, DA Davidson upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.29.

Palantir Technologies Trading Up 2.0 %

NYSE:PLTR traded up $0.77 during midday trading on Friday, hitting $40.01. 62,657,545 shares of the company were exchanged, compared to its average volume of 57,253,805. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $40.29. The company has a market capitalization of $89.60 billion, a PE ratio of 333.44 and a beta of 2.72. The company has a fifty day simple moving average of $32.23 and a 200 day simple moving average of $26.67.

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

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the stock in a transaction on Thursday, August 1st. The shares were 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 owns 65,989 shares in the company, valued at $1,744,089.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Peter Thiel sold 4,181,118 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $36.91, for a total value of $154,325,065.38. Following the transaction, the director now owns 38,502,451 shares of the company’s stock, valued at approximately $1,421,125,466.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now owns 65,989 shares of the company’s stock, valued at $1,744,089.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,814,881 shares of company stock valued at $648,616,023 in the last ninety days. 12.93% of the stock is currently owned by company insiders.

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.