Farther Finance Advisors LLC Grows Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Farther Finance Advisors LLC increased its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 13.4% during the 3rd quarter, Holdings Channel reports. The firm owned 12,792 shares of the company’s stock after purchasing an additional 1,514 shares during the quarter. Farther Finance Advisors LLC’s holdings in Palantir Technologies were worth $476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the third quarter worth about $25,000. Summit Securities Group LLC purchased a new position in Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the second quarter worth about $25,000. Creekmur Asset Management LLC boosted its holdings in Palantir Technologies by 46.0% during the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after purchasing an additional 335 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the second quarter worth about $30,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 8.6 %

Palantir Technologies stock opened at $55.51 on Thursday. The firm’s 50 day simple moving average is $38.60 and its 200 day simple moving average is $29.97. The firm has a market capitalization of $124.30 billion, a PE ratio of 277.65 and a beta of 2.70. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $55.69.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 10.41%. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 EPS. Research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.24, for a total value of $604,800.00. Following the completion of the transaction, the insider now owns 612,006 shares of the company’s stock, valued at $18,507,061.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,204,508 shares of company stock valued at $802,654,666. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PLTR shares. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Mizuho lifted their price objective on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday. Finally, Bank of America lifted 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. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.93.

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.