Baker Avenue Asset Management LP Invests $210,000 in Palantir Technologies Inc. (NYSE:PLTR)

Baker Avenue Asset Management LP purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,648 shares of the company’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in Palantir Technologies during the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies during the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies during the 2nd quarter worth approximately $30,000. Finally, Beacon Capital Management LLC increased its position in Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PLTR shares. Bank of America upped their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush upped their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Citigroup upped their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Northland Capmk upgraded shares of 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 given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $31.71.

Palantir Technologies Stock Down 0.6 %

Shares of NYSE PLTR opened at $59.87 on Wednesday. The firm has a market cap of $134.08 billion, a PE ratio of 297.26 and a beta of 2.70. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $62.08. The company’s fifty day simple moving average is $40.71 and its 200 day simple moving average is $30.98.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, equities analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 11,373 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $32.25, for a total value of $366,779.25. Following the transaction, the insider now directly owns 600,633 shares of the company’s stock, valued at approximately $19,370,414.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 11,373 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $32.25, for a total transaction of $366,779.25. Following the completion of the sale, the insider now owns 600,633 shares of the company’s stock, valued at approximately $19,370,414.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,399,238 shares of company stock valued at $1,041,851,557. Corporate 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.