Ethic Inc. Increases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Ethic Inc. grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 63.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,360 shares of the company's stock after purchasing an additional 31,933 shares during the period. Ethic Inc.'s holdings in Palantir Technologies were worth $6,229,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies in the 4th quarter worth $28,000. Wolff Wiese Magana LLC lifted its holdings in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after buying an additional 265 shares during the period. HighMark Wealth Management LLC raised its position in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC bought a new position in shares of Palantir Technologies in the 4th quarter worth $31,000. 45.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Mizuho increased their price objective on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a report on Tuesday, May 6th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Bank of America upped their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Loop Capital increased their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, Northland Securities lifted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $9.64 during trading on Tuesday, reaching $128.10. 145,671,133 shares of the company were exchanged, compared to its average volume of 76,293,088. Palantir Technologies Inc. has a 52-week low of $20.60 and a 52-week high of $130.55. The company has a market capitalization of $300.44 billion, a P/E ratio of 674.25, a PEG ratio of 10.84 and a beta of 2.68. The stock's 50 day simple moving average is $94.80 and its two-hundred day simple moving average is $83.05.

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

Insiders Place Their Bets

In related news, insider Heather A. Planishek bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $116.14 per share, for a total transaction of $1,161,400.00. Following the completion of the acquisition, the insider now owns 58,006 shares in the company, valued at approximately $6,736,816.84. This trade represents a 20.83% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the transaction, the insider now owns 702,786 shares of the company's stock, valued at approximately $64,958,509.98. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,964,290 shares of company stock valued at $250,504,866 over the last quarter. 9.23% of the stock is owned by insiders.

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.