Franchise Capital Ltd Purchases New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Franchise Capital Ltd acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel reports. The fund acquired 47,609 shares of the company’s stock, valued at approximately $3,601,000. Palantir Technologies accounts for approximately 1.7% of Franchise Capital Ltd’s holdings, making the stock its 10th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Walter & Keenan Wealth Management LLC IN ADV raised its stake in shares of Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after purchasing an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC raised its stake in Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after buying an additional 250 shares in the last quarter. Quantum Private Wealth LLC lifted its holdings in Palantir Technologies by 1.1% during the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after buying an additional 250 shares during the last quarter. Truvestments Capital LLC grew its position in shares of Palantir Technologies by 2.4% in the 3rd quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock worth $453,000 after acquiring an additional 291 shares in the last quarter. Finally, LCM Capital Management Inc increased its holdings in shares of Palantir Technologies by 0.9% in the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock valued at $1,207,000 after acquiring an additional 300 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PLTR shares. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Northland Securities raised their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Wedbush upped their target price on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.00.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares in the company, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,160,723 shares of company stock worth $1,408,158,941. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $75.19 on Friday. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $84.80. The business’s fifty day moving average price is $64.95 and its two-hundred day moving average price is $43.52. The company has a market capitalization of $171.28 billion, a P/E ratio of 375.97, a PEG ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last issued 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. The business 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%. The company’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. On average, research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.