Allspring Global Investments Holdings LLC Purchases 84,856 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Allspring Global Investments Holdings LLC increased its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 227.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,200 shares of the company’s stock after acquiring an additional 84,856 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Palantir Technologies were worth $4,546,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brookstone Capital Management purchased a new stake in Palantir Technologies in the first quarter valued at about $546,000. Aviance Capital Partners LLC purchased a new stake in Palantir Technologies in the first quarter valued at approximately $317,000. Diversified Trust Co boosted its position in Palantir Technologies by 7.9% in the first quarter. Diversified Trust Co now owns 22,671 shares of the company’s stock valued at $522,000 after buying an additional 1,669 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in Palantir Technologies by 29.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 13,590 shares of the company’s stock worth $313,000 after buying an additional 3,080 shares during the period. Finally, Claro Advisors LLC raised its position in Palantir Technologies by 18.0% during the 1st quarter. Claro Advisors LLC now owns 15,398 shares of the company’s stock worth $354,000 after buying an additional 2,346 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the sale, the director now owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,747,176 shares of company stock worth $646,951,347. Insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PLTR shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. DA Davidson upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Monness Crespi & Hardt reduced their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Mizuho upped their target price on Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a research note on Thursday, October 17th. Finally, Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Five 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.86.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $44.99 on Tuesday. The stock has a market capitalization of $100.75 billion, a P/E ratio of 264.66 and a beta of 2.72. The company’s fifty day moving average price is $37.11 and its 200 day moving average price is $29.02. Palantir Technologies Inc. has a 1 year low of $14.48 and a 1 year high of $45.14.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 earnings per share. Sell-side analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.