Crestwood Advisors Group LLC Makes New $203,000 Investment in Palantir Technologies Inc. (NYSE:PLTR)

Crestwood Advisors Group LLC acquired a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,464 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its holdings in shares of Palantir Technologies by 7.5% in the first quarter. Geneos Wealth Management Inc. now owns 12,118 shares of the company’s stock valued at $279,000 after buying an additional 842 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Palantir Technologies by 9.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,919 shares of the company’s stock worth $619,000 after purchasing an additional 2,427 shares during the period. Empowered Funds LLC lifted its holdings in shares of Palantir Technologies by 32.0% during the first quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock valued at $569,000 after purchasing an additional 6,002 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Palantir Technologies by 183.3% in the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after purchasing an additional 102,479 shares during the period. Finally, Insight Advisors LLC PA purchased a new position in Palantir Technologies in the 1st quarter worth about $203,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $55.87 on Friday. The stock has a 50-day simple moving average of $39.10 and a 200-day simple moving average of $30.15. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $56.47. The firm has a market cap of $125.12 billion, a price-to-earnings ratio of 278.85 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 10.41%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 earnings per share. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $30.24, for a total value of $604,800.00. Following the sale, the insider now owns 612,006 shares of the company’s stock, valued at $18,507,061.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,482,878 shares of company stock valued at $1,044,202,496 over the last three months. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Northland Securities boosted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday. Citigroup raised their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Wedbush upped their price target on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.71.

Palantir Technologies Company 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.