Planning Capital Management Corp Boosts Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Planning Capital Management Corp lifted its stake in Palantir Technologies Inc. (NYSE:PLTR) by 2,819.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,007 shares of the company’s stock after buying an additional 2,904 shares during the period. Planning Capital Management Corp’s holdings in Palantir Technologies were worth $112,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after purchasing an additional 3,029,317 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after purchasing an additional 808,444 shares during the period. ARK Investment Management LLC boosted its stake in Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after purchasing an additional 277,623 shares during the period. Legal & General Group Plc boosted its stake in Palantir Technologies by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after purchasing an additional 167,030 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Palantir Technologies by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock worth $185,575,000 after purchasing an additional 292,885 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $60.70 on Thursday. The company has a market cap of $135.93 billion, a PE ratio of 303.52 and a beta of 2.70. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $63.39. The company has a 50-day simple moving average of $41.90 and a 200-day simple moving average of $31.45.

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

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $58.06, for a total value of $514,411.60. Following the sale, the director now directly owns 121,390 shares of the company’s stock, valued at approximately $7,047,903.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 sale, the insider now directly owns 6,432,258 shares in the company, valued at $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. Insiders sold a total of 25,399,238 shares of company stock worth $1,041,851,557 over the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLTR shares. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Bank of America raised their target price 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. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities increased their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.71.

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.