Palantir Technologies Inc. (NYSE:PLTR) Shares Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. increased its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 700.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,960 shares of the company’s stock after acquiring an additional 1,715 shares during the quarter. Sunbelt Securities Inc.’s holdings in Palantir Technologies were worth $73,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the second quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC grew its stake in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 3.9 %

Shares of NYSE PLTR opened at $76.07 on Monday. The stock has a market cap of $173.29 billion, a P/E ratio of 475.44, a PEG ratio of 10.18 and a beta of 2.87. The business’s fifty day simple moving average is $55.75 and its 200-day simple moving average is $38.63. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $80.91.

Palantir Technologies (NYSE:PLTR) last posted its quarterly 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. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the company earned $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Bank of America upped their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Mizuho increased their price target on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $38.40.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $43,908.64. This represents a 99.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter Thiel sold 4,254,666 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total value of $156,444,068.82. Following the sale, the director now directly owns 51,234,275 shares in the company, valued at $1,883,884,291.75. This trade represents a 7.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,612,366 shares of company stock worth $1,867,342,292 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

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.