Brooklyn Investment Group Takes $288,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

Brooklyn Investment Group purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,749 shares of the company’s stock, valued at approximately $288,000.

Several other large investors have also added to or reduced their stakes in the company. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after purchasing an additional 235 shares during the period. Greater Midwest Financial Group LLC boosted its stake in Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after buying an additional 250 shares during the last quarter. Quantum Private Wealth LLC increased its position in Palantir Technologies by 1.1% during the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after purchasing an additional 250 shares during the last quarter. Truvestments Capital LLC raised its position in shares of Palantir Technologies by 2.4% during the 3rd quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after buying an additional 291 shares during the period. Finally, LCM Capital Management Inc raised its position in Palantir Technologies by 0.9% in the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock valued at $1,207,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.7 %

Shares of Palantir Technologies stock opened at $65.74 on Wednesday. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $67.88. The company has a market capitalization of $149.76 billion, a P/E ratio of 328.72 and a beta of 2.70. The company has a 50 day moving average of $47.09 and a 200 day moving average of $34.10.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 1,007,496 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $411,407,221.68. This trade represents a 13.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 14,016 shares of Palantir Technologies stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the sale, the insider now directly owns 576,023 shares in the company, valued at approximately $17,666,625.41. The trade was a 2.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,167,451 shares of company stock worth $1,603,067,889. 12.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent analyst reports. Bank of America raised their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Wedbush boosted their target price on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday. Finally, The Goldman Sachs Group lifted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $35.64.

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.