Victory Capital Management Inc. Raises Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Victory Capital Management Inc. grew its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 682,748 shares of the company’s stock after acquiring an additional 22,672 shares during the period. Victory Capital Management Inc.’s holdings in Palantir Technologies were worth $25,398,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PLTR. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the second quarter worth about $25,000. Northwest Investment Counselors LLC bought a new position in Palantir Technologies during the 3rd quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the 2nd quarter valued at about $30,000. Finally, Beacon Capital Management LLC raised its holdings in shares of Palantir Technologies by 269.5% in the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $65.77 on Monday. The company’s fifty day moving average price is $43.19 and its 200-day moving average price is $32.08. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $66.00. The firm has a market capitalization of $147.29 billion, a PE ratio of 328.87 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the previous year, the business earned $0.03 EPS. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the sale, the director now directly owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 11,373 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 600,633 shares of the company’s stock, valued at $19,370,414.25. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,562,840 shares of company stock worth $1,435,787,316. 12.93% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on PLTR. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Bank of America upped their price objective on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently 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.