Estate Counselors LLC Raises Position in Palantir Technologies Inc. (NYSE:PLTR)

Estate Counselors LLC increased its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 333.2% during the third quarter, Holdings Channel.com reports. The firm owned 148,405 shares of the company’s stock after acquiring an additional 114,150 shares during the quarter. Palantir Technologies accounts for 0.6% of Estate Counselors LLC’s investment portfolio, making the stock its 22nd largest holding. Estate Counselors LLC’s holdings in Palantir Technologies were worth $5,521,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Palantir Technologies by 2.2% during the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Palantir Technologies by 60.5% during 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 acquiring an additional 4,667,955 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Palantir Technologies by 1.4% during the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after acquiring an additional 167,030 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Palantir Technologies by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after acquiring an additional 292,885 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Monness Crespi & Hardt lowered 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. 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 research report on Tuesday, November 5th. Finally, Mizuho boosted their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.71.

Insider Activity

In other news, insider Ryan D. Taylor sold 155,539 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the sale, the insider now owns 331,369 shares in the company, valued at $11,604,542.38. This represents a 31.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 1,620,395 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $406,583,028.18. The trade was a 20.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,167,451 shares of company stock worth $1,603,067,889 over the last 90 days. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $64.35 on Friday. The stock has a market cap of $146.59 billion, a PE ratio of 321.77 and a beta of 2.70. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $66.00. The firm’s 50-day simple moving average is $45.94 and its two-hundred day simple moving average is $33.39.

Palantir Technologies (NYSE:PLTR) last announced 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 business 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 business’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. Equities research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Palantir Technologies Company 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.