Baird Financial Group Inc. Raises Holdings in Palantir Technologies Inc. $PLTR

Baird Financial Group Inc. grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 23.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,818 shares of the company’s stock after buying an additional 80,938 shares during the quarter. Baird Financial Group Inc.’s holdings in Palantir Technologies were worth $57,911,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Signature Resources Capital Management LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter worth $25,000. Briaud Financial Planning Inc acquired a new stake in shares of Palantir Technologies in the second quarter valued at about $27,000. LFA Lugano Financial Advisors SA purchased a new stake in Palantir Technologies during the second quarter worth about $27,000. Frazier Financial Advisors LLC acquired a new position in Palantir Technologies during the second quarter worth about $28,000. Finally, MTM Investment Management LLC purchased a new position in Palantir Technologies in the second quarter valued at about $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 21,000 shares of Palantir Technologies stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $165.95, for a total value of $3,484,950.00. Following the completion of the sale, the director owned 59,794 shares in the company, valued at $9,922,814.30. The trade was a 25.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the transaction, the insider directly owned 251,409 shares of the company’s stock, valued at approximately $40,818,765.24. This represents a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,029,844 shares of company stock valued at $168,161,111. Corporate insiders own 9.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Bank of America boosted their price target on Palantir Technologies from $215.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. HSBC boosted their target price on Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Cantor Fitzgerald upped their target price on Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. CICC Research lifted their price target on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Finally, Morgan Stanley boosted their price objective on shares of Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $172.28.

Palantir Technologies Stock Performance

Shares of PLTR opened at $177.92 on Friday. Palantir Technologies Inc. has a 1 year low of $63.40 and a 1 year high of $207.52. The company’s 50 day simple moving average is $178.91 and its 200 day simple moving average is $160.82. The company has a market capitalization of $424.06 billion, a price-to-earnings ratio of 423.63, a PEG ratio of 6.83 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. Palantir Technologies’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. Equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.