Meeder Asset Management Inc. Acquires 305 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Meeder Asset Management Inc. boosted its position in Palantir Technologies Inc. (NYSE:PLTR) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,099 shares of the company’s stock after buying an additional 305 shares during the period. Meeder Asset Management Inc.’s holdings in Palantir Technologies were worth $1,640,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after acquiring an additional 6,641,253 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Palantir Technologies by 248,208.2% in the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after purchasing an additional 3,623,840 shares during the period. Marshall Wace LLP increased its stake in Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after purchasing an additional 1,969,213 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of Palantir Technologies by 2,722.2% during the 2nd quarter. National Bank of Canada FI now owns 1,716,830 shares of the company’s stock worth $44,427,000 after purchasing an additional 1,655,997 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 6.9 %

NYSE PLTR opened at $61.25 on Tuesday. The firm has a market cap of $139.53 billion, a P/E ratio of 306.27 and a beta of 2.70. The company’s 50 day moving average is $43.72 and its 200-day moving average is $32.36. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00.

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

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. This trade represents a 6.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Heather A. Planishek sold 14,016 shares of the company’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 value of $429,870.72. Following the completion of the sale, the insider now directly owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. This represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,551,467 shares of company stock valued at $1,435,420,536 in the last three months. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wedbush upped their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Citigroup boosted their price objective on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. The Goldman Sachs Group raised their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.71.

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.