HBK Investments L P Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

HBK Investments L P bought a new position in Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,000 shares of the company’s stock, valued at approximately $744,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the second quarter valued at approximately $30,000. Finally, Ashburton Jersey Ltd purchased a new stake in shares of Palantir Technologies in the second quarter worth $36,000. 45.65% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 6,050 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.19, for a total transaction of $200,799.50. Following the sale, the director now directly owns 158,280 shares of the company’s stock, valued at $5,253,313.20. This trade represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’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 value of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,163,181 shares of company stock valued at $1,603,288,758. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 0.5 %

Shares of Palantir Technologies stock opened at $66.05 on Friday. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $67.88. The firm has a market capitalization of $150.46 billion, a P/E ratio of 412.81, a PEG ratio of 8.93 and a beta of 2.70. The company has a 50 day moving average price of $48.27 and a 200 day moving average price of $34.55.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for 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 business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. DA Davidson increased their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Thursday, November 7th. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Mizuho raised their price target on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.64.

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.