Palantir Technologies Inc. (NYSE:PLTR) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 76.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 53,665 shares of the company’s stock after buying an additional 23,178 shares during the quarter. Advisors Asset Management Inc.’s holdings in Palantir Technologies were worth $1,996,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after buying an additional 6,641,253 shares during the period. Marshall Wace LLP raised its stake in shares of Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after acquiring an additional 3,038,861 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Palantir Technologies by 226.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after acquiring an additional 1,969,213 shares in the last quarter. National Bank of Canada FI boosted its position in Palantir Technologies by 2,722.2% during the 2nd quarter. National Bank of Canada FI now owns 1,716,830 shares of the company’s stock worth $44,427,000 after purchasing an additional 1,655,997 shares during the period. Finally, New York State Teachers Retirement System acquired a new stake in Palantir Technologies in the 3rd quarter valued at $57,563,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $64.35 on Monday. The stock has a market capitalization of $146.59 billion, a price-to-earnings ratio of 321.77 and a beta of 2.70. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $66.00. The company’s 50-day simple moving average is $45.94 and its 200-day simple moving average is $33.48.

Palantir Technologies (NYSE:PLTR) last issued 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 analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PLTR shares. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Wedbush lifted their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Monness Crespi & Hardt decreased their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $31.71.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 14,016 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the transaction, the insider now directly owns 576,023 shares in the company, valued at $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 1,007,496 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. This trade represents a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,167,451 shares of company stock valued at $1,603,067,889 over the last 90 days. 12.93% of the stock is owned by company insiders.

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.