5,648 Shares in Palantir Technologies Inc. (NYSE:PLTR) Purchased by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,648 shares of the company’s stock, valued at approximately $210,000.

A number of other large investors have also added to or reduced their stakes in PLTR. Summit Securities Group LLC purchased a new stake in Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the second quarter worth about $30,000. Finally, Beacon Capital Management LLC increased its stake in shares of Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $59.87 on Wednesday. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $62.08. The firm has a market cap of $134.08 billion, a PE ratio of 297.26 and a beta of 2.70. The company has a 50 day simple moving average of $40.71 and a two-hundred day simple moving average of $30.98.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PLTR shares. DA Davidson lifted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Mizuho lifted their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. Northland Securities lifted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Finally, Citigroup raised their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $31.71.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the transaction, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,399,238 shares of company stock worth $1,041,851,557. 12.93% of the stock is currently owned by 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.