Straight Path Wealth Management Boosts Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Straight Path Wealth Management boosted its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,603 shares of the company’s stock after buying an additional 4,253 shares during the period. Palantir Technologies accounts for about 0.6% of Straight Path Wealth Management’s portfolio, making the stock its 23rd largest holding. Straight Path Wealth Management’s holdings in Palantir Technologies were worth $1,287,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLTR. International Assets Investment Management LLC increased its stake in Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of Palantir Technologies by 248,208.2% in the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after purchasing an additional 3,623,840 shares in the last quarter. Marshall Wace LLP grew its position in shares of Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Palantir Technologies by 226.2% in the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after purchasing an additional 1,969,213 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Northland Securities upped their price target 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. Wedbush upped their price target on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average price target of $31.71.

Palantir Technologies Stock Up 11.1 %

NYSE:PLTR traded up $6.59 during trading hours on Friday, reaching $65.77. 155,280,388 shares of the stock were exchanged, compared to its average volume of 58,381,973. The business has a 50-day moving average of $43.19 and a two-hundred day moving average of $31.94. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The company has a market capitalization of $147.29 billion, a price-to-earnings ratio of 329.07 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue was up 30.0% compared to the same quarter last year. On average, research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity

In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the stock in a transaction 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 transaction, the director now directly owns 152,280 shares in the company, valued at $5,535,378. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,562,840 shares of company stock worth $1,435,787,316. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Company 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.