Balboa Wealth Partners Has $2.86 Million Stake in Palantir Technologies Inc. (NYSE:PLTR)

Balboa Wealth Partners boosted its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 28.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,881 shares of the company’s stock after purchasing an additional 16,917 shares during the quarter. Palantir Technologies comprises approximately 0.7% of Balboa Wealth Partners’ investment portfolio, making the stock its 25th largest holding. Balboa Wealth Partners’ holdings in Palantir Technologies were worth $2,860,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue grew its holdings in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after buying an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management grew its stake in shares of Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after buying an additional 99,921 shares during the last quarter. Heritage Wealth Management Inc. CA purchased a new stake in Palantir Technologies during the 3rd quarter valued at $1,076,000. Finally, Cyndeo Wealth Partners LLC purchased a new stake in Palantir Technologies during the 3rd quarter valued at $6,339,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 2.5 %

Shares of PLTR stock opened at $59.19 on Friday. The firm has a market capitalization of $132.55 billion, a P/E ratio of 295.96 and a beta of 2.70. The firm’s fifty day moving average price is $42.48 and its two-hundred day moving average price is $31.65. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $63.39.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during 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%. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 earnings per share. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the completion of the transaction, the director now directly owns 121,390 shares in the company, valued at approximately $7,047,903.40. This represents a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the sale, the director now directly owns 1,510,630 shares in the company, valued at $46,663,360.70. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,239,238 shares of company stock valued at $1,036,731,557. 12.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PLTR. Citigroup raised their price objective on 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 lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a report on Thursday, November 7th. Northland Securities boosted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Monness Crespi & Hardt dropped their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to 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.