Robbins Farley Increases Stake in Palantir Technologies by 95,120%

Robbins Farley has significantly increased its investment in **Palantir Technologies Inc.** (NASDAQ: PLTR), raising its position by an astonishing **95,120%** during the third quarter of 2023. According to a report from HoldingsChannel, Robbins Farley now holds **4,761 shares** of Palantir, following the acquisition of **4,756 additional shares** during the period. The value of their holdings reached approximately **$869,000** at the close of the latest reporting period.

A number of other prominent investors have also adjusted their positions in Palantir. **Vanguard Group Inc.** raised its holdings by **3.6%** in the second quarter, now owning **205,717,666 shares** valued at **$28.04 billion** after acquiring an additional **7,194,216 shares**. Similarly, **State Street Corp** increased its stake by **6.9%**, bringing its total to **94,481,128 shares** worth about **$12.88 billion** following the purchase of **6,097,629 shares**.

In addition, **Norges Bank** entered a new position valued at approximately **$3.31 billion**, while **Invesco Ltd.** raised its stake by **16.0%**, owning **20,585,256 shares** worth **$2.81 billion** after acquiring an additional **2,838,300 shares**. **Kingstone Capital Partners Texas LLC** also purchased a new position in the second quarter valued at around **$2.54 billion**. Currently, institutional investors collectively own **45.65%** of Palantir’s stock.

Analysts Update Price Targets

Analysts have recently adjusted their price targets for Palantir. **Deutsche Bank Aktiengesellschaft** increased its target from **$160.00** to **$200.00**, maintaining a “hold” rating as of **November 4, 2023**. Conversely, **Wall Street Zen** downgraded Palantir from a “buy” to a “hold” rating on **November 28, 2023**.

**Robert W. Baird** also raised its target price from **$170.00** to **$200.00** while keeping a “neutral” rating. **CICC Research** increased its target from **$128.00** to **$150.00**, also assigning a “neutral” rating. **Piper Sandler** set a new high target of **$225.00**, reflecting an “overweight” recommendation. The current consensus shows five analysts with a “buy” rating, sixteen with a “hold” rating, and two with a “sell” rating, resulting in an average rating of “hold” and an average price target of **$172.28** according to MarketBeat.

Insider Transactions and Stock Performance

Recent insider activity has also been notable. On **November 20, 2023**, **Stephen Andrew Cohen**, an insider, sold **308,635 shares** for an average price of **$163.99**, totaling **$50,613,053.65**. Following this sale, he retained **592 shares**, valued at approximately **$97,082.08**, indicating a **99.81%** decrease in his position. Another insider, **Shyam Sankar**, sold **149,872 shares** on the same day, generating **$24,577,509.28** from the sale. Following this transaction, Sankar owned **642,786 shares**, valued at **$105,410,476.14**, reflecting an **18.91%** decrease in ownership. Over the last quarter, insiders have sold a total of **1,008,844 shares** valued at **$164,750,951**, with corporate insiders owning **9.23%** of the stock.

As of **November 3, 2023**, Palantir Technologies opened at **$193.95**. The company boasts a market capitalization of **$462.27 billion**, with a price-to-earnings ratio of **461.80** and a price-to-earnings-growth ratio of **7.53**. Palantir’s stock has fluctuated between a low of **$63.40** and a high of **$207.52** over the past year. The company reported a quarterly revenue of **$1.18 billion**, surpassing analysts’ expectations of **$1.09 billion**. This represents a **62.8%** year-over-year increase, with earnings per share of **$0.21**, beating estimates by **$0.04**.

Palantir Technologies, founded in **2003** by a team including **Alex Karp** and **Peter Thiel**, specializes in data integration and analytics software for both government and commercial clients. The firm has established itself as a leader in enterprise-scale software designed to manage complex data projects, emphasizing security and real-time collaboration.

For ongoing updates regarding Palantir Technologies and its stakeholders, interested parties can visit HoldingsChannel.com for the latest filings and insider trades.