Palantir Technologies Inc. $PLTR Stock Holdings Lifted by Bank of Nova Scotia

Bank of Nova Scotia grew its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 254,822 shares of the company’s stock after purchasing an additional 31,993 shares during the period. Bank of Nova Scotia’s holdings in Palantir Technologies were worth $34,738,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signature Resources Capital Management LLC acquired a new position in Palantir Technologies in the second quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in Palantir Technologies in the first quarter valued at approximately $27,000. 1248 Management LLC bought a new stake in Palantir Technologies in the first quarter worth approximately $27,000. Briaud Financial Planning Inc acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $27,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $27,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 0.1%

PLTR opened at $181.49 on Tuesday. The stock’s 50 day moving average price is $179.05 and its two-hundred day moving average price is $162.16. The firm has a market capitalization of $432.57 billion, a P/E ratio of 432.13, a price-to-earnings-growth ratio of 7.05 and a beta of 1.50. Palantir Technologies Inc. has a 12-month low of $63.40 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.Palantir Technologies’s revenue for the quarter was up 62.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Wall Street Zen lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Jefferies Financial Group reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, November 4th. Citigroup raised their price objective on Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Finally, Cantor Fitzgerald boosted their target price on Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $172.28.

Insider Transactions at Palantir Technologies

In other news, insider Jeffrey Buckley sold 1,252 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $157.50, for a total transaction of $197,190.00. Following the completion of the transaction, the insider owned 47,044 shares of the company’s stock, valued at approximately $7,409,430. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 19,004 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the completion of the sale, the insider owned 642,786 shares of the company’s stock, valued at approximately $100,435,312.50. The trade was a 2.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,029,844 shares of company stock worth $168,161,111. 12.93% of the stock is currently owned by insiders.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.