Montchanin Asset Management LLC Raises Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Montchanin Asset Management LLC raised its position in Palantir Technologies Inc. (NYSE:PLTR) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,200 shares of the company’s stock after purchasing an additional 555 shares during the quarter. Montchanin Asset Management LLC’s holdings in Palantir Technologies were worth $787,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth about $25,000. Summit Securities Group LLC purchased a new position in Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies during the second quarter valued at about $25,000. Creekmur Asset Management LLC raised its stake in shares of Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of Palantir Technologies by 47.5% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock worth $44,000 after acquiring an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 6.2 %

Shares of Palantir Technologies stock opened at $76.34 on Friday. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $76.82. The company has a market capitalization of $173.90 billion, a P/E ratio of 381.72, a P/E/G ratio of 9.41 and a beta of 2.87. The company has a 50 day moving average of $52.25 and a 200 day moving average of $36.58.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Wedbush lifted their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Northland Securities boosted their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday. Finally, Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $35.64.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 6,050 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.19, for a total value of $200,799.50. Following the completion of the sale, the director now directly owns 158,280 shares of the company’s stock, valued at $5,253,313.20. This represents a 3.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,423,181 shares of company stock worth $1,972,588,658 over the last 90 days. 12.93% of the stock is owned by insiders.

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.