Fifth Third Wealth Advisors LLC Purchases 13,708 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Fifth Third Wealth Advisors LLC grew its position in Palantir Technologies Inc. (NYSE:PLTR) by 166.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,941 shares of the company’s stock after buying an additional 13,708 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Palantir Technologies were worth $816,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue raised its position in Palantir Technologies by 22.9% during the third 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. Oppenheimer & Co. Inc. raised its holdings in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after buying an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management lifted its position in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after buying an additional 99,921 shares during the last quarter. Heritage Wealth Management Inc. CA acquired a new stake in Palantir Technologies in the third quarter valued at about $1,076,000. Finally, Cyndeo Wealth Partners LLC acquired a new position in Palantir Technologies during the third quarter worth about $6,339,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 2.8 %

Shares of Palantir Technologies stock opened at $62.97 on Wednesday. The business has a 50-day moving average price of $44.29 and a two-hundred day moving average price of $32.64. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $66.00. The company has a market cap of $143.45 billion, a P/E ratio of 314.87 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its 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. 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 analysts’ expectations of $705.11 million. During the same quarter last year, the firm posted $0.03 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. Equities research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity

In related news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was 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 of the company’s stock, valued at $232,011,546.06. The trade was a 41.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the transaction, the director now owns 152,280 shares in the company, valued at approximately $5,535,378. The trade was a 3.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,551,467 shares of company stock worth $1,435,420,536 in the last quarter. 12.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Northland Securities lifted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Citigroup boosted their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Bank of America boosted their price objective on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, DA Davidson increased their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $31.71.

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.