Miracle Mile Advisors LLC Buys 1,298 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Miracle Mile Advisors LLC increased its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,308 shares of the company’s stock after acquiring an additional 1,298 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Palantir Technologies were worth $607,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

PLTR has been the subject of a number of recent research reports. Bank of America raised their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Monness Crespi & Hardt reduced their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group raised their price objective on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. 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. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $27.29.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the sale, the insider now owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.17, for a total transaction of $254,021.35. Following the completion of the sale, the director now directly owns 145,625 shares of the company’s stock, valued at approximately $5,558,506.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the completion of the sale, the insider now owns 562,006 shares in the company, valued at $22,452,139.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,831,855 shares of company stock valued at $649,330,295. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $41.45 on Wednesday. Palantir Technologies Inc. has a 52-week low of $14.48 and a 52-week high of $41.49. The firm has a market capitalization of $92.83 billion, a price-to-earnings ratio of 345.45 and a beta of 2.72. The stock has a 50 day moving average price of $32.73 and a 200 day moving average price of $26.92.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results 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). The firm had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 EPS. Analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

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.