Ballentine Partners LLC Purchases 4,756 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Ballentine Partners LLC grew its position in Palantir Technologies Inc. (NYSE:PLTR) by 38.5% during the third quarter, Holdings Channel reports. The institutional investor owned 17,095 shares of the company’s stock after acquiring an additional 4,756 shares during the quarter. Ballentine Partners LLC’s holdings in Palantir Technologies were worth $636,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PLTR. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the 3rd quarter valued at approximately $25,000. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at approximately $30,000. Finally, Ashburton Jersey Ltd purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at approximately $36,000. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. DA Davidson lifted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Bank of America boosted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush upped their price target on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $27.86.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the sale, the director now directly owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the transaction, the director now owns 138,304 shares in the company, valued at $6,071,545.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,747,176 shares of company stock valued at $646,951,347 over the last three months. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $44.86 on Friday. The business’s fifty day moving average price is $36.86 and its two-hundred day moving average price is $28.81. The company has a market capitalization of $99.90 billion, a P/E ratio of 373.83 and a beta of 2.72. Palantir Technologies Inc. has a 1-year low of $14.48 and a 1-year high of $45.07.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS. On average, research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

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.