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

Swiss National Bank increased its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 6.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,010,900 shares of the company’s stock after buying an additional 381,500 shares during the quarter. Swiss National Bank owned about 0.27% of Palantir Technologies worth $223,605,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PLTR. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies in the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies during the second quarter worth $30,000. Finally, Beacon Capital Management LLC boosted its holdings in shares of Palantir Technologies by 269.5% in the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PLTR. Citigroup boosted their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Bank of America upped their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Monness Crespi & Hardt cut their target price 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 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Trading Up 11.1 %

NYSE PLTR opened at $65.77 on Monday. The firm has a market capitalization of $147.29 billion, a PE ratio of 328.87 and a beta of 2.70. The business’s 50-day moving average price is $43.19 and its two-hundred day moving average price is $32.08. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $66.00.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. As a group, analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek sold 14,016 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total value of $429,870.72. Following the transaction, the insider now directly owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. The trade was a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,562,840 shares of company stock valued at $1,435,787,316 over the last quarter. Insiders own 12.93% of the company’s stock.

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.