Pekin Hardy Strauss Inc. Invests $272,000 in Palantir Technologies Inc. (NYSE:PLTR)

Pekin Hardy Strauss Inc. acquired a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,300 shares of the company’s stock, valued at approximately $272,000.

Several other large investors have also bought and sold shares of PLTR. Walter & Keenan Wealth Management LLC IN ADV increased its stake in shares of Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after buying an additional 235 shares during the period. Greater Midwest Financial Group LLC boosted its holdings in Palantir Technologies by 0.3% in the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after acquiring an additional 250 shares during the last quarter. Quantum Private Wealth LLC increased its position in Palantir Technologies by 1.1% during the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after purchasing an additional 250 shares during the period. LCM Capital Management Inc raised its holdings in Palantir Technologies by 0.9% during the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after purchasing an additional 300 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV lifted its position in shares of Palantir Technologies by 0.6% in the 3rd quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company’s stock worth $1,799,000 after purchasing an additional 300 shares during the period. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Performance

Shares of PLTR opened at $64.35 on Monday. The firm has a market capitalization of $146.59 billion, a P/E ratio of 321.77 and a beta of 2.70. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $66.00. The stock has a 50 day moving average price of $45.94 and a two-hundred day moving average price of $33.48.

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

Wall Street Analyst Weigh In

PLTR has been the topic of several recent analyst reports. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. Bank of America raised their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Citigroup boosted their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $31.71.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 1,620,395 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total value of $102,425,167.95. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $406,583,028.18. The trade was a 20.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the stock in a transaction 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 transaction, the director now directly owns 152,280 shares of the company’s stock, valued at approximately $5,535,378. This trade represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,167,451 shares of company stock valued at $1,603,067,889. Corporate insiders own 12.93% of the company’s stock.

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.