ING Groep NV Purchases New Holdings in Palantir Technologies Inc. (NYSE:PLTR)

ING Groep NV acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 85,925 shares of the company’s stock, valued at approximately $3,196,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Walter & Keenan Wealth Management LLC IN ADV lifted its holdings in shares of Palantir Technologies by 1.2% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after purchasing an additional 235 shares during the period. Greater Midwest Financial Group LLC raised its position in Palantir Technologies by 0.3% during the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after buying an additional 250 shares during the last quarter. Quantum Private Wealth LLC lifted its stake in shares of Palantir Technologies by 1.1% in the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after acquiring an additional 250 shares during the period. LCM Capital Management Inc boosted its holdings in shares of Palantir Technologies by 0.9% in the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock valued at $1,207,000 after acquiring an additional 300 shares in the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV increased its stake in shares of Palantir Technologies by 0.6% during the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company’s stock worth $1,799,000 after acquiring an additional 300 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $405,875,479.80. This trade represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the sale, the director now directly owns 152,280 shares of the company’s stock, valued at $5,535,378. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,562,840 shares of company stock valued at $1,435,787,316 over the last quarter. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLTR. Mizuho lifted their price objective on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research report on Thursday, November 7th. Six equities research 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Trading Up 11.1 %

NYSE:PLTR opened at $65.77 on Friday. The firm has a market cap of $147.29 billion, a price-to-earnings ratio of 328.87 and a beta of 2.70. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00. The company’s 50-day moving average is $43.19 and its two-hundred day moving average is $32.01.

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