Palantir Technologies Inc. (NYSE:PLTR) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 344.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 248,771 shares of the company’s stock after acquiring an additional 192,744 shares during the period. Pacer Advisors Inc.’s holdings in Palantir Technologies were worth $9,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter worth $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the third quarter valued at $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the 2nd quarter valued at $30,000. Finally, Beacon Capital Management LLC increased its stake in Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Northland Securities upped their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Mizuho upped their target price on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Monness Crespi & Hardt decreased their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Finally, Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Price Performance

NYSE:PLTR opened at $64.35 on Friday. The firm has a market capitalization of $146.59 billion, a P/E ratio of 321.77 and a beta of 2.70. The business has a 50 day simple moving average of $45.94 and a 200 day simple moving average of $33.39. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during 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 company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity

In related news, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the sale, the insider now directly owns 331,369 shares in the company, valued at $11,604,542.38. The trade was a 31.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $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 90 days, insiders have sold 34,167,451 shares of company stock valued at $1,603,067,889. Insiders own 12.93% of the company’s stock.

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.