Palantir Technologies Inc. (NYSE:PLTR) Shares Purchased by Empower Advisory Group LLC

Empower Advisory Group LLC boosted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 30.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,285 shares of the company’s stock after buying an additional 2,644 shares during the quarter. Empower Advisory Group LLC’s holdings in Palantir Technologies were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in Palantir Technologies by 22.9% in 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 in the last quarter. Tyler Stone Wealth Management increased its position 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 valued at $7,515,000 after buying an additional 99,921 shares in the last quarter. Heritage Wealth Management Inc. CA acquired a new position in shares of Palantir Technologies during the 3rd quarter worth $1,076,000. Cyndeo Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth about $6,339,000. Finally, Seven Grand Managers LLC acquired a new stake in Palantir Technologies in the 3rd quarter valued at about $930,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $59.19 on Friday. The firm has a market capitalization of $132.55 billion, a price-to-earnings ratio of 295.95 and a beta of 2.70. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $63.39. The company has a 50 day moving average price of $41.90 and a 200 day moving average price of $31.45.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the firm posted $0.03 EPS. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now 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 legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the sale, the director now directly owns 121,390 shares of the company’s stock, valued at approximately $7,047,903.40. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,239,238 shares of company stock worth $1,036,731,557 in the last three months. 12.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Wedbush upped their target price on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. DA Davidson boosted their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six equities 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.71.

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.