Valmark Advisers Inc. Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

Valmark Advisers Inc. purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,693 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. State of Alaska Department of Revenue raised its stake 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 valued at $13,786,000 after purchasing an additional 68,945 shares in the last quarter. Heritage Wealth Management Inc. CA bought a new stake in Palantir Technologies in the third quarter valued at about $1,076,000. Cyndeo Wealth Partners LLC acquired a new stake in Palantir Technologies during the third quarter valued at approximately $6,339,000. Seven Grand Managers LLC bought a new position in Palantir Technologies during the 3rd quarter worth approximately $930,000. Finally, Dock Street Asset Management Inc. grew its position in shares of Palantir Technologies by 23.4% in the 3rd quarter. Dock Street Asset Management Inc. now owns 998,953 shares of the company’s stock worth $37,161,000 after acquiring an additional 189,189 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $289,580,255.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal 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 on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,204,508 shares of company stock valued at $802,654,666. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLTR. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. DA Davidson increased their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Citigroup raised their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Monness Crespi & Hardt lowered their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Finally, Bank of America raised their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.86.

Palantir Technologies Stock Performance

Shares of PLTR opened at $41.56 on Friday. Palantir Technologies Inc. has a one year low of $14.48 and a one year high of $45.14. The stock’s fifty day moving average is $37.77 and its 200-day moving average is $29.36. The firm has a market capitalization of $93.07 billion, a price-to-earnings ratio of 244.47 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 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 analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. Analysts forecast that Palantir Technologies Inc. will post 0.19 EPS 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.