Livforsakringsbolaget Skandia Omsesidigt Raises Position in Palantir Technologies Inc. (NYSE:PLTR)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in Palantir Technologies Inc. (NYSE:PLTR) by 298.9% during the third quarter, HoldingsChannel reports. The firm owned 15,519 shares of the company’s stock after acquiring an additional 11,629 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Palantir Technologies were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of PLTR. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies in the second quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies in the 2nd quarter valued at about $25,000. West Paces Advisors Inc. lifted its holdings in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies during the second quarter worth about $30,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PLTR shares. Mizuho cut shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their price target for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. Wedbush raised their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Argus initiated coverage on Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target for the company. Monness Crespi & Hardt dropped their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Finally, Bank of America lifted their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Five investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.29.

Palantir Technologies Stock Down 0.0 %

Shares of PLTR stock opened at $43.51 on Monday. The business has a 50-day moving average price of $34.08 and a two-hundred day moving average price of $27.44. Palantir Technologies Inc. has a 12-month low of $14.48 and a 12-month high of $44.38. The firm has a market cap of $96.89 billion, a P/E ratio of 362.58 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 EPS. As a group, research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $24,352,627.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total value of $80,611.50. Following the transaction, the director now owns 65,989 shares in the company, valued at approximately $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,829,855 shares of company stock valued at $649,272,355 over the last three months. Insiders own 12.93% of the company’s stock.

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.