Cary Street Partners Financial LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Cary Street Partners Financial LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,697 shares of the company's stock, valued at approximately $809,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Mather Group LLC. boosted its holdings in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after buying an additional 448 shares during the period. Diversify Wealth Management LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at about $876,000. Destiny Wealth Partners LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth about $3,233,000. Kieckhefer Group LLC bought a new stake in Palantir Technologies during the 4th quarter valued at approximately $11,769,000. Finally, Grange Capital LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $5,829,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLTR. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday. Robert W. Baird lifted their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Cantor Fitzgerald increased their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday. Royal Bank of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a report on Tuesday. Finally, Loop Capital upped their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Stock Down 1.5 %

PLTR stock traded down $1.79 during trading on Friday, hitting $117.36. The company had a trading volume of 80,786,187 shares, compared to its average volume of 75,877,276. Palantir Technologies Inc. has a 52-week low of $20.50 and a 52-week high of $125.41. The company has a 50 day simple moving average of $94.23 and a 200-day simple moving average of $81.99. The firm has a market capitalization of $275.25 billion, a P/E ratio of 617.72, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company's revenue was up 39.4% on a year-over-year basis. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $48,988. The trade was a 99.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather A. Planishek sold 18,537 shares of Palantir Technologies stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $102.32, for a total value of $1,896,705.84. Following the completion of the transaction, the insider now owns 493,469 shares in the company, valued at $50,491,748.08. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,978,181 shares of company stock valued at $252,115,667 over the last three months. 9.23% of the stock is owned by company insiders.

Palantir Technologies Company Profile

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.