Independent Advisor Alliance Has $1.10 Million Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Independent Advisor Alliance boosted its stake in Palantir Technologies Inc. (NYSE:PLTR) by 9.9% in the third quarter, Holdings Channel reports. The firm owned 29,642 shares of the company’s stock after purchasing an additional 2,662 shares during the quarter. Independent Advisor Alliance’s holdings in Palantir Technologies were worth $1,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at approximately $25,000. Summit Securities Group LLC bought a new position in Palantir Technologies in the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies during the second quarter valued at approximately $25,000. Creekmur Asset Management LLC lifted its stake in Palantir Technologies by 46.0% during the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after purchasing an additional 335 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of Palantir Technologies by 47.5% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock valued at $44,000 after purchasing an additional 380 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. The Goldman Sachs Group boosted their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Wedbush lifted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday. Finally, Citigroup increased their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $35.64.

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the sale, the insider now owns 576,023 shares of the company’s stock, valued at $17,666,625.41. This trade represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the completion of the sale, the insider now owns 331,369 shares of the company’s stock, valued at $11,604,542.38. This represents a 31.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,167,451 shares of company stock valued at $1,603,067,889 over the last quarter. Insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 1.7 %

Shares of PLTR stock opened at $65.74 on Wednesday. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $67.88. The stock has a market cap of $149.76 billion, a price-to-earnings ratio of 328.72 and a beta of 2.70. The stock has a 50-day moving average of $47.09 and a 200-day moving average of $34.10.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 EPS. 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.