Grant Private Wealth Management Inc Invests $2.72 Million in Palantir Technologies Inc. $PLTR

Grant Private Wealth Management Inc acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,893 shares of the company’s stock, valued at approximately $2,717,000. Palantir Technologies accounts for about 1.7% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 12th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Palantir Technologies by 3.6% during the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares during the period. Truist Financial Corp increased its stake in Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after purchasing an additional 21,809 shares in the last quarter. State of Michigan Retirement System increased its stake in Palantir Technologies by 1.3% during the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock worth $127,923,000 after purchasing an additional 12,300 shares in the last quarter. Presilium Private Wealth LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $204,000. Finally, New Century Financial Group LLC bought a new position in Palantir Technologies in the second quarter valued at approximately $228,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PLTR shares. Jefferies Financial Group reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Piper Sandler increased their target price on Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Bank of America boosted their price target on Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Northland Securities upped their price objective on Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. Finally, UBS Group lifted their target price on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $172.28.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $187.75 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $63.40 and a fifty-two week high of $207.52. The stock has a market capitalization of $447.49 billion, a price-to-earnings ratio of 447.03, a PEG ratio of 7.10 and a beta of 1.49. The business has a 50-day moving average of $179.50 and a 200-day moving average of $164.76.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating 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 return on equity of 15.48% and a net margin of 28.11%.The business’s quarterly revenue was up 62.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 308,635 shares of Palantir Technologies stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $50,613,053.65. Following the completion of the transaction, the insider owned 592 shares of the company’s stock, valued at $97,082.08. This trade represents a 99.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 359,325 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $58,925,706.75. Following the completion of the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $1,054,825,989.42. The trade was a 5.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,017,844 shares of company stock valued at $166,349,351 in the last ninety days. 12.93% of the stock is currently owned by insiders.

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.