UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 391,675 Shares of Palantir Technologies Inc. (NYSE:PLTR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Palantir Technologies Inc. (NYSE:PLTR) by 4.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 10,188,114 shares of the company’s stock after buying an additional 391,675 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Palantir Technologies were worth $378,998,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies during the third quarter worth about $25,000. Summit Securities Group LLC bought a new position in Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the second quarter worth about $25,000. Creekmur Asset Management LLC boosted its holdings 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 buying an additional 335 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE boosted its holdings in Palantir Technologies by 47.5% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock worth $44,000 after buying an additional 380 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $66.05 on Friday. The business’s 50 day simple moving average is $48.27 and its 200 day simple moving average is $34.55. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $67.88. The firm has a market cap of $150.46 billion, a PE ratio of 412.81, a P/E/G ratio of 8.93 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 EPS. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.74, for a total transaction of $674,800.00. Following the transaction, the insider now owns 576,023 shares of the company’s stock, valued at $19,435,016.02. The trade was a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the transaction, the director now directly owns 111,644 shares in the company, valued at $7,454,469.88. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,163,181 shares of company stock valued at $1,603,288,758 in the last 90 days. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLTR. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Wedbush raised their target price on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday. Monness Crespi & Hardt reduced their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Finally, Bank of America raised their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.64.

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.