Palantir Technologies Inc. $PLTR Shares Bought by Watershed Private Wealth LLC

Key Points

• Watershed Private Wealth LLC raised its Palantir stake by 75.3% in Q3, buying an additional 3,350 shares to hold 7,798 shares worth about $1.423 million.
• Major institutions hold large positions — Vanguard owns ~205.7M shares (~$28.0B), State Street ~94.5M shares (~$12.9B) and Norges Bank opened a new ~ $3.31B position — with institutional investors owning 45.65% of the stock.
• Palantir beat Q expectations with $0.21 EPS and $1.18B revenue (up 62.8% year-over-year), but insiders have been selling heavily, totaling 1,008,044 shares (~$164.6M) in the past three months.

Watershed Private Wealth LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 75.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,798 shares of the company's stock after acquiring an additional 3,350 shares during the period. Watershed Private Wealth LLC's holdings in Palantir Technologies were worth $1,423,000 at the end of the most recent reporting period.

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

Palantir Technologies Price Performance

PLTR stock opened at $177.75 on Friday. The stock has a market capitalization of $423.66 billion, a price-to-earnings ratio of 423.22, a price-to-earnings-growth ratio of 6.89 and a beta of 1.54. The company has a 50-day moving average of $181.20 and a two-hundred day moving average of $168.89. Palantir Technologies Inc. has a 52-week low of $63.40 and a 52-week high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) 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 firm had revenue of $1.18 billion during 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 firm's revenue for the quarter 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. Equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Palantir Technologies in a report on Monday. Raymond James Financial reiterated a "market perform" rating on shares of Palantir Technologies in a report on Tuesday, November 4th. The Goldman Sachs Group increased their price target on Palantir Technologies from $141.00 to $188.00 and gave the company a "neutral" rating in a research report on Tuesday, November 4th. HSBC boosted their target price on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a "hold" rating in a research note on Wednesday, November 5th. Finally, CICC Research raised their price target on shares of Palantir Technologies from $128.00 to $150.00 and gave the stock a "neutral" rating in a report on Wednesday, November 12th. Five investment 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 data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $172.28.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 149,872 shares of the company's stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $24,577,509.28. Following the completion of the transaction, the insider owned 642,786 shares of the company's stock, valued at approximately $105,410,476.14. This represents a 18.91% 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 Alexander C. Karp sold 359,325 shares of the business's 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 transaction, the insider owned 6,432,258 shares in the company, valued at $1,054,825,989.42. This represents a 5.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,008,044 shares of company stock valued at $164,601,839 in the last three months. 9.23% of the stock is owned by insiders.

Palantir Technologies Profile

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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