12,598 Shares in Palantir Technologies Inc. (NYSE:PLTR) Purchased by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,598 shares of the company’s stock, valued at approximately $469,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crestwood Advisors Group LLC bought a new position in Palantir Technologies during the third quarter valued at $203,000. Amalgamated Bank boosted its stake in shares of Palantir Technologies by 211.1% during the 3rd quarter. Amalgamated Bank now owns 423,082 shares of the company’s stock worth $15,739,000 after purchasing an additional 287,100 shares during the period. Sentry Investment Management LLC grew its holdings in Palantir Technologies by 36.3% during the 3rd quarter. Sentry Investment Management LLC now owns 27,078 shares of the company’s stock valued at $1,007,000 after purchasing an additional 7,210 shares during the last quarter. United Advisor Group LLC raised its position in Palantir Technologies by 17.5% in the 3rd quarter. United Advisor Group LLC now owns 101,208 shares of the company’s stock worth $3,765,000 after purchasing an additional 15,047 shares during the period. Finally, Gulf International Bank UK Ltd lifted its stake in Palantir Technologies by 6.7% in the third quarter. Gulf International Bank UK Ltd now owns 159,879 shares of the company’s stock worth $5,947,000 after purchasing an additional 9,982 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 0.6 %

Shares of PLTR stock opened at $55.87 on Friday. The firm has a market cap of $125.12 billion, a price-to-earnings ratio of 279.35 and a beta of 2.70. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $56.47. The company’s 50 day moving average is $39.10 and its 200 day moving average is $30.15.

Palantir Technologies (NYSE:PLTR) last announced 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. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 10.41% and a net margin of 18.01%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. Analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $24,352,627.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.24, for a total transaction of $604,800.00. Following the completion of the transaction, the insider now directly owns 612,006 shares of the company’s stock, valued at $18,507,061.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,482,878 shares of company stock valued at $1,044,202,496. 12.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PLTR shares. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday. Monness Crespi & Hardt decreased their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. DA Davidson raised their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wedbush lifted their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $31.71.

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.