Verus Capital Partners LLC Increases Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Verus Capital Partners LLC raised its stake in Palantir Technologies Inc. (NYSE:PLTR) by 22.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,678 shares of the company’s stock after acquiring an additional 9,242 shares during the period. Verus Capital Partners LLC’s holdings in Palantir Technologies were worth $1,885,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PLTR. State of Alaska Department of Revenue boosted its stake in Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Tyler Stone Wealth Management grew its stake in shares of Palantir Technologies by 97.9% in the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after acquiring an additional 99,921 shares during the period. Heritage Wealth Management Inc. CA purchased a new position in shares of Palantir Technologies during the third quarter valued at approximately $1,076,000. Cyndeo Wealth Partners LLC bought a new position in Palantir Technologies during the third quarter valued at approximately $6,339,000. Finally, Seven Grand Managers LLC bought a new stake in Palantir Technologies in the 3rd quarter worth approximately $930,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $60.27 on Tuesday. The firm has a market capitalization of $134.97 billion, a PE ratio of 301.37 and a beta of 2.70. The stock’s fifty day moving average is $40.71 and its 200 day moving average is $30.98. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $62.08.

Palantir Technologies (NYSE:PLTR) last announced its earnings results 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. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Equities analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PLTR shares. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush lifted their price objective on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Monness Crespi & Hardt reduced their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.71.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Monday, September 16th. The stock was 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 directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now directly owns 152,280 shares in the company, valued at $5,535,378. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,462,878 shares of company stock worth $1,043,597,696. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Company 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.