Portside Wealth Group LLC Has $380,000 Stake in Palantir Technologies Inc. (NYSE:PLTR)

Portside Wealth Group LLC increased its position in Palantir Technologies Inc. (NYSE:PLTR) by 16.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,225 shares of the company’s stock after acquiring an additional 1,447 shares during the period. Portside Wealth Group LLC’s holdings in Palantir Technologies were worth $380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies in the second quarter worth about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in Palantir Technologies in the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies during the third quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies during the second quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC raised its position in shares of Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the sale, the director now owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the sale, the director now directly owns 1,510,630 shares in the company, valued at $46,663,360.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,482,878 shares of company stock valued at $1,044,202,496. 12.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PLTR. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Securities boosted their price objective on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. DA Davidson raised their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Bank of America upped their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Stock Up 4.5 %

NYSE:PLTR opened at $58.39 on Friday. The firm has a market capitalization of $130.76 billion, a PE ratio of 291.96 and a beta of 2.70. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $58.48. The firm has a 50-day moving average price of $40.13 and a 200 day moving average price of $30.65.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. On average, research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.