Raymond James Trust N.A. Buys 16,395 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Raymond James Trust N.A. raised its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 172.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,920 shares of the company’s stock after purchasing an additional 16,395 shares during the quarter. Raymond James Trust N.A.’s holdings in Palantir Technologies were worth $964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PLTR. Summit Securities Group LLC bought a new stake in Palantir Technologies during the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the second quarter worth $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the second quarter worth $30,000. Finally, Beacon Capital Management LLC increased its stake in shares of Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 14,016 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the transaction, the insider now owns 576,023 shares in the company, valued at $17,666,625.41. The trade was a 2.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 1,620,395 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $406,583,028.18. The trade was a 20.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,167,451 shares of company stock worth $1,603,067,889 in the last quarter. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 4.9 %

Shares of PLTR stock opened at $64.35 on Monday. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $66.00. The stock has a market cap of $146.59 billion, a PE ratio of 321.77 and a beta of 2.70. The company’s fifty day moving average price is $45.94 and its 200-day moving average price is $33.48.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm 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 company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the topic of several analyst reports. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Wedbush boosted their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Citigroup boosted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Thursday, November 7th. Finally, Monness Crespi & Hardt reduced their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $31.71.

About Palantir Technologies

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.