Adero Partners LLC Acquires 467 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Adero Partners LLC lifted its position in Palantir Technologies Inc. (NYSE:PLTR) by 3.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,064 shares of the company’s stock after purchasing an additional 467 shares during the period. Adero Partners LLC’s holdings in Palantir Technologies were worth $560,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the third quarter worth about $25,000. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the second quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies in the second quarter worth about $25,000. Creekmur Asset Management LLC lifted its holdings in shares of Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after buying an additional 335 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies in the second quarter worth about $30,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PLTR shares. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. DA Davidson raised their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Bank of America raised their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.71.

Insider Transactions at Palantir Technologies

In related news, insider Heather A. Planishek sold 14,016 shares of Palantir Technologies stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the sale, the insider now owns 576,023 shares in the company, valued at $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Monday, September 16th. The shares were 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 owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,562,840 shares of company stock worth $1,435,787,316. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $65.77 on Friday. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $66.00. The company has a market capitalization of $147.29 billion, a PE ratio of 328.87 and a beta of 2.70. The company’s 50 day moving average price is $43.19 and its two-hundred day moving average price is $32.01.

Palantir Technologies (NYSE:PLTR) last issued its 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. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue was up 30.0% on a year-over-year basis. On average, research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current year.

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.