MetLife Investment Management LLC Buys 485,860 Shares of Palantir Technologies Inc. (NYSE:PLTR)

MetLife Investment Management LLC boosted its position in Palantir Technologies Inc. (NYSE:PLTR) by 375.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 615,205 shares of the company’s stock after purchasing an additional 485,860 shares during the period. MetLife Investment Management LLC’s holdings in Palantir Technologies were worth $22,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies during the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the second quarter worth $30,000. Finally, Beacon Capital Management LLC raised 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 institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on PLTR shares. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Thursday, November 7th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $35.64.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $66.77, for a total transaction of $650,740.42. Following the sale, the director now directly owns 111,644 shares in the company, valued at approximately $7,454,469.88. This trade represents a 8.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,163,181 shares of company stock valued at $1,603,288,758 over the last quarter. 12.93% of the stock is owned by company insiders.

Palantir Technologies Trading Up 0.5 %

PLTR stock opened at $66.05 on Thursday. The stock has a market capitalization of $150.46 billion, a price-to-earnings ratio of 330.25 and a beta of 2.70. The firm’s 50-day moving average price is $47.68 and its two-hundred day moving average price is $34.33. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $67.88.

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

Palantir Technologies Company 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.