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4,700 Shares in Palantir Technologies Inc. $PLTR Purchased by Franchise Capital Ltd

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Key Points

  • Franchise Capital Ltd opened a new stake in Palantir, buying 4,700 shares (~$857,000) in Q3, making PLTR about 0.4% of its portfolio and its 13th-largest holding.
  • Palantir beat Q3 estimates (EPS $0.21 vs. $0.17; revenue $1.18B, up 62.8% YoY) and raised U.S. commercial revenue guidance, prompting several analyst price-target increases, though valuation concerns remain.
  • Insiders have been heavy sellers—over 1,023,444 shares (~$167M) sold in the past 90 days—and the company faces reputational and legal risks (reports about the ELITE app and a suit with Percepta) that could pressure the stock.
  • Five stocks we like better than Palantir Technologies.

Franchise Capital Ltd acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,700 shares of the company's stock, valued at approximately $857,000. Palantir Technologies comprises about 0.4% of Franchise Capital Ltd's portfolio, making the stock its 13th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLTR. Norges Bank bought a new stake in Palantir Technologies in the second quarter worth $3,307,457,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Palantir Technologies in the second quarter valued at $2,543,888,000. Vanguard Group Inc. raised its stake in shares of Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock valued at $28,043,432,000 after acquiring an additional 7,194,216 shares during the period. State Street Corp boosted its stake in shares of Palantir Technologies by 6.9% during the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company's stock worth $12,879,667,000 after purchasing an additional 6,097,629 shares during the period. Finally, Invesco Ltd. grew its holdings in Palantir Technologies by 16.0% during the 2nd quarter. Invesco Ltd. now owns 20,585,256 shares of the company's stock valued at $2,806,182,000 after purchasing an additional 2,838,300 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the transaction, the insider directly owned 251,409 shares of the company's stock, valued at $40,818,765.24. This trade represents a 12.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 308,635 shares of the company's stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $50,613,053.65. Following the sale, the insider owned 592 shares of the company's stock, valued at approximately $97,082.08. This represents a 99.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,023,444 shares of company stock worth $167,394,629. 9.23% of the stock is currently owned by company insiders.

Trending Headlines about Palantir Technologies

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

Wall Street Analyst Weigh In

PLTR has been the subject of several analyst reports. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $155.00 to $198.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 4th. DA Davidson raised their price target on Palantir Technologies from $170.00 to $215.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 4th. UBS Group boosted their price objective on Palantir Technologies from $165.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, November 4th. Raymond James Financial reiterated a "market perform" rating on shares of Palantir Technologies in a research note on Tuesday, November 4th. Finally, CICC Research lifted their target price on Palantir Technologies from $128.00 to $150.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $175.88.

View Our Latest Report on Palantir Technologies

Palantir Technologies Stock Down 0.7%

Shares of NASDAQ PLTR opened at $177.07 on Friday. Palantir Technologies Inc. has a twelve month low of $66.12 and a twelve month high of $207.52. The firm has a market cap of $422.04 billion, a PE ratio of 421.61, a price-to-earnings-growth ratio of 4.49 and a beta of 1.54. The business has a fifty day simple moving average of $178.27 and a two-hundred day simple moving average of $171.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.04. The business 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 business's revenue was up 62.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. On average, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.

See Also

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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