Palantir Technologies Inc. $PLTR Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 10.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 336,738 shares of the company’s stock after selling 38,570 shares during the period. Palantir Technologies makes up about 0.7% of QRG Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. QRG Capital Management Inc.’s holdings in Palantir Technologies were worth $61,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Financial Consulate Inc. purchased a new position in shares of Palantir Technologies during the 3rd quarter worth $30,000. Retirement Wealth Solutions LLC acquired a new stake in Palantir Technologies during the third quarter worth about $31,000. Signature Resources Capital Management LLC acquired a new stake in Palantir Technologies during the second quarter worth about $25,000. Marquette Asset Management LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at about $34,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at approximately $27,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 149,872 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $24,577,509.28. Following the sale, the insider owned 642,786 shares in the company, valued at $105,410,476.14. This represents a 18.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Glazer sold 15,557 shares of Palantir Technologies stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $2,551,192.43. Following the completion of the transaction, the insider owned 415,612 shares of the company’s stock, valued at $68,156,211.88. The trade was a 3.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,023,444 shares of company stock valued at $167,394,629. Corporate insiders own 9.23% of the company’s stock.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $170.96 on Friday. The firm has a market capitalization of $407.47 billion, a PE ratio of 407.06, a price-to-earnings-growth ratio of 4.45 and a beta of 1.54. Palantir Technologies Inc. has a 1 year low of $66.12 and a 1 year high of $207.52. The firm’s 50-day moving average is $178.13 and its two-hundred day moving average is $171.73.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 62.8% compared to the same quarter last year. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. CICC Research lifted their price target on shares of Palantir Technologies from $128.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, November 4th. Bank of America increased their price target on Palantir Technologies from $215.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Morgan Stanley upped their target price on shares of Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Finally, Northland Securities lifted their price target on shares of Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $175.88.

Read Our Latest Report on Palantir Technologies

Palantir Technologies Company Profile

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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