Burns J W & Co. Inc. NY Purchases Shares of 6,812 Palantir Technologies Inc. (NYSE:PLTR)

Burns J W & Co. Inc. NY acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,812 shares of the company’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its holdings in Palantir Technologies by 17.7% in the fourth quarter. Allianz Asset Management GmbH now owns 156,302 shares of the company’s stock valued at $2,684,000 after buying an additional 23,537 shares during the period. Bank of Nova Scotia lifted its stake in shares of Palantir Technologies by 35.5% in the 4th quarter. Bank of Nova Scotia now owns 52,918 shares of the company’s stock valued at $908,000 after purchasing an additional 13,873 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of Palantir Technologies by 2.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 85,150 shares of the company’s stock valued at $1,462,000 after purchasing an additional 2,008 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in Palantir Technologies by 696.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 206,024 shares of the company’s stock worth $3,537,000 after purchasing an additional 180,172 shares during the period. Finally, Cibc World Markets Corp bought a new stake in Palantir Technologies in the fourth quarter worth approximately $883,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Mizuho cut shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Citigroup increased their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Bank of America boosted their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.29.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $40.01 on Friday. Palantir Technologies Inc. has a 1 year low of $14.48 and a 1 year high of $40.29. The company has a market capitalization of $89.10 billion, a PE ratio of 333.42 and a beta of 2.72. The business has a fifty day moving average price of $32.49 and a two-hundred day moving average price of $26.79.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter last year, the business posted $0.01 EPS. The business’s quarterly revenue was up 27.2% on a year-over-year basis. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the transaction, the director now owns 29,817 shares in the company, valued at $834,876. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Peter Thiel sold 4,181,118 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $36.91, for a total transaction of $154,325,065.38. Following the sale, the director now directly owns 38,502,451 shares in the company, valued at approximately $1,421,125,466.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric H. Woersching sold 3,026 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the completion of the transaction, the director now owns 29,817 shares of the company’s stock, valued at approximately $834,876. This 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 90 days. Insiders own 12.93% of the company’s stock.

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.