RIA Advisory Group LLC Invests $2.05 Million in Palantir Technologies Inc. (NYSE:PLTR)

RIA Advisory Group LLC purchased a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 54,982 shares of the company’s stock, valued at approximately $2,045,000. Palantir Technologies comprises 0.7% of RIA Advisory Group LLC’s holdings, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new position in Palantir Technologies in the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies during the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies during the second quarter valued at $30,000. Finally, Beacon Capital Management LLC boosted its holdings in Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after acquiring an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. This trade represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, the director now owns 152,280 shares in the company, valued at $5,535,378. The trade was a 3.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,562,840 shares of company stock worth $1,435,787,316 over the last quarter. 12.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Bank of America upped their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $31.71.

Palantir Technologies Trading Up 11.1 %

NYSE:PLTR opened at $65.77 on Friday. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $66.00. The stock has a 50-day moving average price of $43.19 and a two-hundred day moving average price of $31.94. The stock has a market cap of $147.29 billion, a price-to-earnings ratio of 329.07 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the previous year, the business posted $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share 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.