Archon Partners LLC Has $20.45 Million Stock Position in Palantir Technologies Inc. $PLTR

Archon Partners LLC cut its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the company’s stock after selling 10,000 shares during the quarter. Palantir Technologies comprises approximately 2.4% of Archon Partners LLC’s holdings, making the stock its 17th biggest position. Archon Partners LLC’s holdings in Palantir Technologies were worth $20,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Signature Resources Capital Management LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies during the first quarter worth about $27,000. 1248 Management LLC acquired a new position in Palantir Technologies during the first quarter worth approximately $27,000. Briaud Financial Planning Inc acquired a new position in Palantir Technologies during the second quarter worth approximately $27,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in Palantir Technologies in the second quarter valued at approximately $27,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank Of Canada lifted their target price on Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 4th. DA Davidson raised their price target on Palantir Technologies from $170.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Piper Sandler lifted their price objective on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Bank of America increased their price objective on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, HSBC raised their target price on shares of Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $172.28.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 19,004 shares of Palantir Technologies stock in a transaction on Friday, November 21st. The stock was sold at an average price of $156.25, for a total value of $2,969,375.00. Following the completion of the transaction, the insider directly owned 642,786 shares of the company’s stock, valued at $100,435,312.50. The trade was a 2.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Buckley sold 1,252 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $157.50, for a total value of $197,190.00. Following the sale, the insider directly owned 47,044 shares in the company, valued at approximately $7,409,430. This trade represents a 2.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,029,844 shares of company stock valued at $168,161,111 in the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $181.84 on Wednesday. Palantir Technologies Inc. has a 52 week low of $63.40 and a 52 week high of $207.52. The company has a market capitalization of $433.40 billion, a PE ratio of 432.96, a price-to-earnings-growth ratio of 7.04 and a beta of 1.50. The company’s 50-day simple moving average is $179.03 and its 200 day simple moving average is $162.57.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 62.8% compared to the same quarter last year. On average, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies 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.