Hobbs Group Advisors LLC Has $106,000 Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Hobbs Group Advisors LLC lessened its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 87.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,856 shares of the company’s stock after selling 20,776 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Palantir Technologies were worth $106,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State Street Corp grew its holdings in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. International Assets Investment Management LLC increased its holdings in Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. Finally, Marshall Wace LLP lifted its stake in Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after buying an additional 3,038,861 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. DA Davidson boosted their price target 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. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Northland Securities lifted their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.64.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $70.89 on Wednesday. The stock has a 50-day simple moving average of $53.65 and a 200 day simple moving average of $37.52. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $80.91. The company has a market cap of $161.49 billion, a PE ratio of 354.45, a PEG ratio of 10.29 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last posted 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. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the company earned $0.03 earnings per share. The firm’s revenue was up 30.0% compared to the same quarter last year. On average, research analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This trade represents a 9.60 % 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 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The trade was a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,407,852 shares of company stock worth $1,972,536,217 in the last three months. Insiders own 12.93% of the company’s stock.

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.