Oppenheimer Asset Management Inc. Takes $4.19 Million Position in Palantir Technologies Inc. (NYSE:PLTR)

Oppenheimer Asset Management Inc. bought a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 112,617 shares of the company’s stock, valued at approximately $4,189,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Walter & Keenan Wealth Management LLC IN ADV raised its stake in shares of Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after acquiring an additional 235 shares during the period. Greater Midwest Financial Group LLC raised its stake in shares of Palantir Technologies by 0.3% in the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after acquiring an additional 250 shares during the period. Quantum Private Wealth LLC raised its stake in shares of Palantir Technologies by 1.1% in the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after acquiring an additional 250 shares during the period. LCM Capital Management Inc increased its stake in Palantir Technologies by 0.9% in the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after buying an additional 300 shares during the period. Finally, Acorn Financial Advisory Services Inc. ADV increased its stake in Palantir Technologies by 0.6% in the 3rd quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company’s stock worth $1,799,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLTR. Northland Securities raised their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Bank of America raised their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Finally, The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Six 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 MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $65.81 on Friday. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $66.00. The stock has a market capitalization of $147.38 billion, a P/E ratio of 329.07 and a beta of 2.70. The company’s 50-day simple moving average is $43.19 and its 200-day simple moving average is $31.94.

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

Insider Activity

In related news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This trade represents a 41.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction that occurred on 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 completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This trade represents a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,562,840 shares of company stock worth $1,435,787,316. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies 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.