Advyzon Investment Management LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,992 shares of the company's stock, valued at approximately $168,000.
Other hedge funds have also recently made changes to their positions in the company. Northern Trust Corp grew its position in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after buying an additional 3,299,779 shares during the period. Bank of New York Mellon Corp lifted its position in Palantir Technologies by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock worth $1,099,861,000 after buying an additional 187,860 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Palantir Technologies by 3.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,532,241 shares of the company's stock valued at $796,553,000 after purchasing an additional 344,127 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Palantir Technologies by 19.2% during the fourth quarter. Deutsche Bank AG now owns 6,785,225 shares of the company's stock valued at $513,167,000 after buying an additional 1,091,299 shares during the period. Finally, Nuveen Asset Management LLC increased its position in Palantir Technologies by 6.8% during the 4th quarter. Nuveen Asset Management LLC now owns 5,219,689 shares of the company's stock valued at $394,765,000 after buying an additional 332,546 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on PLTR. Loop Capital reaffirmed a "buy" rating and issued a $180.00 price target (up previously from $178.00) on shares of Palantir Technologies in a research note on Tuesday. Citigroup reaffirmed a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a report on Tuesday. UBS Group restated a "neutral" rating and set a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Bank of America raised their target price on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $136.61.
Get Our Latest Stock Analysis on Palantir Technologies
Palantir Technologies Price Performance
PLTR stock traded up $4.76 during mid-day trading on Friday, reaching $186.96. 62,386,781 shares of the company traded hands, compared to its average volume of 92,380,180. The company has a fifty day moving average price of $144.43 and a 200-day moving average price of $114.82. The company has a market capitalization of $441.21 billion, a P/E ratio of 623.22, a P/E/G ratio of 13.07 and a beta of 2.60. Palantir Technologies Inc. has a 52-week low of $29.10 and a 52-week high of $187.99.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's revenue was up 48.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.
Insider Activity at Palantir Technologies
In other news, insider David A. Glazer sold 30,812 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the completion of the sale, the insider directly owned 495,497 shares of the company's stock, valued at $62,625,865.83. This represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,515,632 shares of company stock worth $196,472,623 over the last quarter. 9.23% of the stock is currently owned by company insiders.
About Palantir Technologies
(
Free Report)
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.
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