Palantir Technologies Inc. (NYSE:PLTR) Shares Purchased by abrdn plc

abrdn plc grew its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 124.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 611,142 shares of the company’s stock after purchasing an additional 338,260 shares during the period. abrdn plc’s holdings in Palantir Technologies were worth $22,646,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Pallas Capital Advisors LLC purchased a new stake in shares of Palantir Technologies during the 3rd quarter valued at about $199,000. Nisa Investment Advisors LLC raised its stake in shares of Palantir Technologies by 5.0% during the third quarter. Nisa Investment Advisors LLC now owns 251,320 shares of the company’s stock valued at $9,349,000 after purchasing an additional 11,920 shares during the period. Yeomans Consulting Group Inc. acquired a new position in shares of Palantir Technologies during the third quarter worth $370,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Palantir Technologies by 17.3% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 12,829 shares of the company’s stock valued at $477,000 after purchasing an additional 1,892 shares during the period. Finally, Gemmer Asset Management LLC acquired a new stake in Palantir Technologies during the 3rd quarter valued at $252,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity

In related news, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the sale, the insider now directly owns 372,565 shares in the company, valued at $11,180,675.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 249,684 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,204,508 shares of company stock valued at $802,654,666. 12.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLTR. Citigroup boosted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Wedbush raised their price objective on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Jefferies Financial Group upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Mizuho raised their price target on shares of Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a research report on Thursday, October 17th. Finally, Northland Securities initiated coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.86.

Palantir Technologies Stock Down 4.9 %

Shares of NYSE PLTR opened at $41.56 on Friday. The firm’s 50-day moving average price is $37.77 and its two-hundred day moving average price is $29.36. Palantir Technologies Inc. has a 52-week low of $14.48 and a 52-week high of $45.14. The stock has a market capitalization of $93.07 billion, a P/E ratio of 244.47 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its quarterly 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 company had revenue of $678.13 million during 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 company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS. As a group, equities research analysts expect 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.