Palantir Technologies Inc. (NYSE:PLTR) Stake Lifted by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC boosted its stake in Palantir Technologies Inc. (NYSE:PLTR) by 23.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,563 shares of the company’s stock after buying an additional 15,270 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Palantir Technologies were worth $2,960,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in Palantir Technologies during the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter valued at $25,000. West Paces Advisors Inc. raised its stake in shares of Palantir Technologies by 110.7% during 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. bought a new position in Palantir Technologies in the 2nd quarter valued at about $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 valued at $31,000 after buying an additional 691 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the sale, the director now directly owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the transaction, the director now owns 69,039 shares in the company, valued at approximately $2,000,059.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,831,855 shares of company stock worth $649,330,295. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $43.13 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $43.34. The firm’s 50 day simple moving average is $33.35 and its 200-day simple moving average is $27.16. The company has a market cap of $96.05 billion, a P/E ratio of 359.42 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 earnings per share. On average, analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PLTR. Northland Securities started coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective for the company. Jefferies Financial Group increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their price objective for the stock from $21.00 to $22.00 in a research note on Tuesday, July 16th. Bank of America lifted their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average price target of $27.29.

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.