Oppenheimer Asset Management Inc. Makes New $4.19 Million Investment in Palantir Technologies Inc. (NYSE:PLTR)

Oppenheimer Asset Management Inc. purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 112,617 shares of the company’s stock, valued at approximately $4,189,000.

Other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Palantir Technologies during the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies during the 3rd quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC increased its holdings in shares of Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on PLTR. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. DA Davidson lifted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Finally, Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.71.

Insider Activity

In other news, insider Heather A. Planishek sold 11,373 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $32.25, for a total transaction of $366,779.25. Following the transaction, the insider now owns 600,633 shares of the company’s stock, valued at approximately $19,370,414.25. The trade was a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. The trade was a 3.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,562,840 shares of company stock valued at $1,435,787,316. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 11.2 %

Shares of PLTR opened at $65.81 on Friday. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $66.00. The firm’s fifty day moving average is $43.19 and its two-hundred day moving average is $31.94. The stock has a market cap of $147.38 billion, a PE ratio of 329.07 and a beta of 2.70.

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

Palantir Technologies 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.