Forsta AP Fonden Purchases 89,900 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Forsta AP Fonden increased its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 21.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 511,000 shares of the company’s stock after purchasing an additional 89,900 shares during the period. Forsta AP Fonden’s holdings in Palantir Technologies were worth $19,009,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in Palantir Technologies in the second quarter worth $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the second quarter worth $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies in the second quarter worth $30,000. Finally, Beacon Capital Management LLC lifted its stake in shares of Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after acquiring an additional 1,105 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PLTR shares. Wedbush upped their price objective on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Jefferies Financial Group upped their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Monness Crespi & Hardt reduced their price target on 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, Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $27.86.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of Palantir Technologies stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the transaction, the director now owns 65,989 shares in the company, valued at approximately $1,744,089.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now owns 65,989 shares in the company, valued at $1,744,089.27. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,747,176 shares of company stock worth $646,951,347. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $44.86 on Friday. The stock’s fifty day moving average price is $36.86 and its two-hundred day moving average price is $28.81. Palantir Technologies Inc. has a one year low of $14.48 and a one year high of $45.07. The firm has a market cap of $99.90 billion, a PE ratio of 373.83 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same quarter last year, the business earned $0.01 EPS. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. Sell-side analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

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.