Fortem Financial Group LLC Has $2.78 Million Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Fortem Financial Group LLC cut its position in Palantir Technologies Inc. (NYSE:PLTR) by 2.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 74,720 shares of the company’s stock after selling 2,120 shares during the quarter. Palantir Technologies comprises about 1.1% of Fortem Financial Group LLC’s portfolio, making the stock its 23rd largest holding. Fortem Financial Group LLC’s holdings in Palantir Technologies were worth $2,780,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PLTR. State Street Corp raised its stake in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. International Assets Investment Management LLC raised its position in shares of Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the period. Finally, Marshall Wace LLP raised its holdings in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after buying an additional 3,038,861 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Down 2.2 %

Shares of PLTR opened at $70.89 on Wednesday. The company’s fifty day simple moving average is $53.65 and its 200 day simple moving average is $37.52. The company has a market cap of $161.49 billion, a price-to-earnings ratio of 354.45, a PEG ratio of 10.29 and a beta of 2.87. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $80.91.

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, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for 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%. 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 earned $0.03 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Bank of America lifted their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. 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 assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $35.64.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred 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 owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $66.59, for a total value of $1,997,700.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $50,128,019.74. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,407,852 shares of company stock worth $1,972,536,217. Company insiders own 12.93% of the company’s stock.

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.