International Assets Investment Management LLC Purchases 6,641,253 Shares of Palantir Technologies Inc. (NYSE:PLTR)

International Assets Investment Management LLC boosted its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 3,476.2% in the third quarter, Holdings Channel reports. The institutional investor owned 6,832,301 shares of the company’s stock after buying an additional 6,641,253 shares during the period. International Assets Investment Management LLC’s holdings in Palantir Technologies were worth $254,162,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. 1832 Asset Management L.P. lifted its holdings in shares of Palantir Technologies by 248,208.2% during the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after purchasing an additional 3,623,840 shares during the period. Marshall Wace LLP lifted its holdings in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after buying an additional 3,038,861 shares during the period. Vanguard Group Inc. grew its position in shares of Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after buying an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Palantir Technologies by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after buying an additional 1,980,495 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Palantir Technologies by 2,722.2% during the second quarter. National Bank of Canada FI now owns 1,716,830 shares of the company’s stock worth $44,427,000 after acquiring an additional 1,655,997 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 2.3 %

Palantir Technologies stock opened at $43.56 on Friday. The firm’s fifty day moving average price is $36.35 and its two-hundred day moving average price is $28.52. The firm has a market capitalization of $97.54 billion, a price-to-earnings ratio of 256.22 and a beta of 2.72. Palantir Technologies Inc. has a 1-year low of $14.48 and a 1-year high of $44.39.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company 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%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. On average, research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLTR. Northland Securities initiated coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price for the company. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Monness Crespi & Hardt cut their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Finally, Mizuho lifted their target price on Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.86.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the sale, the director now directly owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $43.90, for a total value of $321,391.90. Following the transaction, the director now directly owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,747,176 shares of company stock worth $646,951,347 in the last quarter. 12.93% of the stock is currently owned by corporate 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.