Palantir Technologies Inc. (NYSE:PLTR) Shares Bought by Fiduciary Trust Co

Fiduciary Trust Co lifted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 134.1% during the third quarter, Holdings Channel.com reports. The fund owned 44,617 shares of the company’s stock after purchasing an additional 25,556 shares during the period. Fiduciary Trust Co’s holdings in Palantir Technologies were worth $1,660,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in shares of Palantir Technologies during the first quarter worth $303,000. Burney Co. purchased a new stake in Palantir Technologies during the first quarter valued at about $226,000. Cetera Advisors LLC boosted its holdings in shares of Palantir Technologies by 51.3% in the first quarter. Cetera Advisors LLC now owns 163,382 shares of the company’s stock worth $3,759,000 after buying an additional 55,375 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of Palantir Technologies by 49.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,012 shares of the company’s stock worth $51,000 after acquiring an additional 665 shares in the last quarter. Finally, HBW Advisory Services LLC acquired a new stake in shares of Palantir Technologies during the second quarter valued at approximately $249,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $67.08 on Friday. The business’s 50-day simple moving average is $48.86 and its 200-day simple moving average is $34.87. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $67.88. The firm has a market cap of $152.81 billion, a price-to-earnings ratio of 335.42, a P/E/G ratio of 8.93 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating 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 company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PLTR. Mizuho increased their target price on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. DA Davidson increased their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.64.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.74, for a total value of $674,800.00. Following the completion of the sale, the insider now directly owns 576,023 shares of the company’s stock, valued at $19,435,016.02. This represents a 3.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $66.77, for a total transaction of $650,740.42. Following the transaction, the director now owns 111,644 shares in the company, valued at approximately $7,454,469.88. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,163,181 shares of company stock valued at $1,603,288,758 in the last quarter. 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.