Swiss National Bank Purchases 381,500 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Swiss National Bank boosted its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 6.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,010,900 shares of the company’s stock after acquiring an additional 381,500 shares during the quarter. Swiss National Bank’s holdings in Palantir Technologies were worth $223,605,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLTR. Thrivent Financial for Lutherans increased its holdings in Palantir Technologies by 73.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 91,656 shares of the company’s stock worth $3,409,000 after purchasing an additional 38,924 shares in the last quarter. Claro Advisors LLC grew its holdings in Palantir Technologies by 3.4% during the third quarter. Claro Advisors LLC now owns 18,172 shares of the company’s stock worth $676,000 after buying an additional 596 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE raised its position in Palantir Technologies by 47.5% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock valued at $44,000 after buying an additional 380 shares during the last quarter. Adero Partners LLC lifted its stake in Palantir Technologies by 3.2% during the 3rd quarter. Adero Partners LLC now owns 15,064 shares of the company’s stock valued at $560,000 after acquiring an additional 467 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new position in Palantir Technologies during the 3rd quarter worth $9,212,000. Institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. This trade represents a 6.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. DA Davidson increased their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Wedbush boosted their price objective on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Citigroup lifted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.71.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $65.77 on Monday. The stock has a market capitalization of $147.29 billion, a price-to-earnings ratio of 328.87 and a beta of 2.70. The company’s fifty day simple moving average is $43.19 and its two-hundred day simple moving average is $32.08. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $66.00.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS 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.