Victory Capital Management Inc. Increases Position in Palantir Technologies Inc. (NYSE:PLTR)

Victory Capital Management Inc. boosted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 3.4% during the third quarter, HoldingsChannel.com reports. The firm owned 682,748 shares of the company’s stock after purchasing an additional 22,672 shares during the period. Victory Capital Management Inc.’s holdings in Palantir Technologies were worth $25,398,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the 2nd quarter worth $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the second quarter valued at $30,000. Finally, Beacon Capital Management LLC grew its position 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 valued at $35,000 after purchasing an additional 1,105 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 14,016 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the transaction, the insider now owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. This trade represents a 2.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the completion of the sale, the director now owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,562,840 shares of company stock valued at $1,435,787,316 over the last 90 days. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PLTR shares. Mizuho raised their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Northland Securities raised their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Monness Crespi & Hardt dropped their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Bank of America raised their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Stock Performance

PLTR opened at $65.77 on Monday. The stock has a market capitalization of $147.29 billion, a PE ratio of 328.87 and a beta of 2.70. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $66.00. The business’s 50 day moving average price is $43.19 and its 200 day moving average price is $32.08.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

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.