Palantir Technologies Inc. $PLTR Shares Acquired by Focus Financial Network Inc.

Focus Financial Network Inc. increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 154.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,252 shares of the company’s stock after buying an additional 18,966 shares during the quarter. Focus Financial Network Inc.’s holdings in Palantir Technologies were worth $5,701,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after acquiring an additional 7,194,216 shares during the period. State Street Corp grew its position in Palantir Technologies by 6.9% in the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company’s stock worth $12,879,667,000 after purchasing an additional 6,097,629 shares during the last quarter. Norges Bank bought a new position in Palantir Technologies in the 2nd quarter worth about $3,307,457,000. Invesco Ltd. grew its position in Palantir Technologies by 16.0% in the 2nd quarter. Invesco Ltd. now owns 20,585,256 shares of the company’s stock worth $2,806,182,000 after purchasing an additional 2,838,300 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of Palantir Technologies in the second quarter valued at approximately $2,543,888,000. 45.65% of the stock is currently owned by institutional investors.

Trending Headlines about Palantir Technologies

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Palantir Technologies Stock Up 4.1%

Shares of PLTR stock opened at $193.38 on Friday. Palantir Technologies Inc. has a fifty-two week low of $63.40 and a fifty-two week high of $207.52. The stock has a 50-day simple moving average of $179.74 and a 200 day simple moving average of $165.42. The stock has a market capitalization of $460.91 billion, a P/E ratio of 460.44, a P/E/G ratio of 7.20 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s revenue was up 62.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PLTR shares. DA Davidson boosted their price objective on Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Jefferies Financial Group reissued an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, November 4th. Royal Bank Of Canada lifted their price objective on shares of Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Tuesday, November 4th. Robert W. Baird upped their price objective on shares of Palantir Technologies from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $172.28.

Get Our Latest Analysis on Palantir Technologies

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 15,557 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $2,551,192.43. Following the transaction, the insider owned 415,612 shares of the company’s stock, valued at approximately $68,156,211.88. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 308,635 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $50,613,053.65. Following the sale, the insider owned 592 shares of the company’s stock, valued at $97,082.08. This trade represents a 99.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,008,844 shares of company stock valued at $164,750,951 in the last 90 days. 9.23% of the stock is owned by corporate insiders.

About Palantir Technologies

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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