Claro Advisors LLC Increases Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Claro Advisors LLC grew its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 18,172 shares of the company’s stock after acquiring an additional 596 shares during the period. Claro Advisors LLC’s holdings in Palantir Technologies were worth $676,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, insider Alexander C. Karp sold 1,823,602 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total value of $115,105,758.24. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $406,004,124.96. This represents a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the transaction, the director now directly owns 121,390 shares in the company, valued at approximately $7,047,903.40. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,562,840 shares of company stock valued at $1,435,787,316. 12.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PLTR shares. Monness Crespi & Hardt decreased their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Wedbush boosted their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Mizuho boosted their target price on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Stock Performance

PLTR opened at $65.77 on Monday. The stock has a market cap of $147.29 billion, a price-to-earnings ratio of 328.87 and a beta of 2.70. The stock’s 50 day moving average price is $43.19 and its 200-day moving average price is $32.08. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $66.00.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, analysts predict that Palantir Technologies Inc. will post 0.21 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.