FCG Investment Co Boosts Position in Palantir Technologies Inc. $PLTR

FCG Investment Co boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 49.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,233 shares of the company’s stock after purchasing an additional 4,679 shares during the quarter. Palantir Technologies comprises approximately 1.2% of FCG Investment Co’s portfolio, making the stock its 19th biggest position. FCG Investment Co’s holdings in Palantir Technologies were worth $2,596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Signature Resources Capital Management LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies in the 1st quarter valued at $27,000. 1248 Management LLC acquired a new stake in Palantir Technologies during the 1st quarter worth $27,000. Briaud Financial Planning Inc purchased a new stake in Palantir Technologies in the second quarter valued at $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Palantir Technologies in the second quarter valued at $27,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 4.7%

PLTR opened at $185.69 on Friday. Palantir Technologies Inc. has a 52 week low of $63.40 and a 52 week high of $207.52. The business has a 50 day moving average price of $179.38 and a two-hundred day moving average price of $164.99. The company has a market cap of $442.58 billion, a PE ratio of 442.13, a P/E/G ratio of 6.87 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company’s revenue was up 62.8% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 359,325 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 $58,925,706.75. Following the sale, the insider owned 6,432,258 shares of the company’s stock, valued at $1,054,825,989.42. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 149,872 shares of the business’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 transaction, the insider owned 642,786 shares in the company, valued at approximately $105,410,476.14. This trade represents a 18.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,008,844 shares of company stock worth $164,750,951 over the last quarter. 9.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PLTR shares. UBS Group raised their price objective on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Bank of America raised their price target on Palantir Technologies from $215.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $141.00 to $188.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. DA Davidson boosted their price objective on Palantir Technologies from $170.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Raymond James Financial restated a “market perform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $172.28.

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.