Traphagen Investment Advisors LLC Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

Traphagen Investment Advisors LLC purchased a new position in Palantir Technologies Inc. (NYSE:PLTR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,871 shares of the company’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Summit Securities Group LLC purchased a new stake in Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies in the 2nd quarter worth $25,000. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the 3rd quarter worth $25,000. West Paces Advisors Inc. lifted its stake in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies during the second quarter valued at about $30,000. 45.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLTR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Northland Securities assumed 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. 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. Wedbush increased their price objective on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Monness Crespi & Hardt lowered their price objective 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. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.86.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the transaction, the director now owns 138,304 shares of the company’s stock, valued at $6,071,545.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the sale, the insider now owns 562,006 shares in the company, valued at approximately $22,452,139.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the transaction, the director now owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,747,176 shares of company stock worth $646,951,347 over the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 0.3 %

Shares of PLTR stock traded up $0.14 during mid-day trading on Tuesday, reaching $42.84. The stock had a trading volume of 10,412,744 shares, compared to its average volume of 56,726,785. Palantir Technologies Inc. has a 1-year low of $14.48 and a 1-year high of $44.39. The firm has a market cap of $95.40 billion, a price-to-earnings ratio of 357.00 and a beta of 2.72. The business’s fifty day moving average is $35.87 and its 200-day moving average is $28.28.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results 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 business had revenue of $678.13 million during the quarter, compared to analyst estimates 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 quarter last year, the company posted $0.01 EPS. On average, 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.