Bank of Nova Scotia Has $34.74 Million Position in Palantir Technologies Inc. $PLTR

Bank of Nova Scotia increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 254,822 shares of the company’s stock after purchasing an additional 31,993 shares during the period. Bank of Nova Scotia’s holdings in Palantir Technologies were worth $34,738,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 308,635 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the sale, the insider owned 592 shares in the company, valued at approximately $97,082.08. This represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 21,000 shares of Palantir Technologies stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $165.95, for a total value of $3,484,950.00. Following the completion of the transaction, the director directly owned 59,794 shares of the company’s stock, valued at $9,922,814.30. This represents a 25.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,029,844 shares of company stock valued at $168,161,111. Insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 0.1%

Shares of Palantir Technologies stock opened at $181.49 on Tuesday. The stock has a market capitalization of $432.57 billion, a price-to-earnings ratio of 432.13, a P/E/G ratio of 7.05 and a beta of 1.50. The firm’s 50-day moving average price is $179.05 and its two-hundred day moving average price is $162.16. Palantir Technologies Inc. has a 1-year low of $63.40 and a 1-year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last announced 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 business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.Palantir Technologies’s revenue was up 62.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Daiwa Capital Markets raised their price objective on Palantir Technologies from $178.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Royal Bank Of Canada upped their target price on Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Tuesday, November 4th. Finally, CICC Research lifted their price target on shares of Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $172.28.

Palantir Technologies Company Profile

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.