Jacobs Levy Equity Management Inc. Takes $280,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

Jacobs Levy Equity Management Inc. bought a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) during the third quarter, HoldingsChannel reports. The firm bought 7,531 shares of the company’s stock, valued at approximately $280,000.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Tyler Stone Wealth Management raised its position in shares of Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after purchasing an additional 99,921 shares during the last quarter. Finally, Boston Family Office LLC raised its position in shares of Palantir Technologies by 48.0% in the 3rd quarter. Boston Family Office LLC now owns 37,000 shares of the company’s stock worth $1,376,000 after purchasing an additional 12,000 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $50,128,019.74. The trade was a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the transaction, the director now owns 152,280 shares of the company’s stock, valued at approximately $5,535,378. This trade represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,407,852 shares of company stock worth $1,972,536,217. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Down 2.2 %

NYSE PLTR opened at $70.89 on Wednesday. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $80.91. The firm has a market capitalization of $161.49 billion, a P/E ratio of 371.75, a PEG ratio of 10.29 and a beta of 2.87. The company has a 50-day moving average price of $52.96 and a 200-day moving average price of $37.16.

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

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent analyst reports. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research report on Thursday, November 7th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Bank of America boosted their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $35.64.

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.