Neo Ivy Capital Management Purchases New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Neo Ivy Capital Management purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 73,728 shares of the company's stock, valued at approximately $5,576,000. Palantir Technologies makes up 1.1% of Neo Ivy Capital Management's investment portfolio, making the stock its 13th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of PLTR. Continuum Advisory LLC boosted its stake in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after acquiring an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA boosted its stake in Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after acquiring an additional 111 shares during the last quarter. True Wealth Design LLC boosted its stake in Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company's stock valued at $38,000 after acquiring an additional 114 shares during the last quarter. Westover Capital Advisors LLC boosted its stake in Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock valued at $554,000 after acquiring an additional 130 shares during the last quarter. Finally, Tritonpoint Wealth LLC boosted its stake in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock valued at $537,000 after acquiring an additional 132 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PLTR shares. 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, May 6th. Morgan Stanley boosted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. DA Davidson boosted their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. UBS Group boosted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $83.95.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Buckley sold 1,708 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $215,874.12. Following the transaction, the insider now owns 34,468 shares of the company's stock, valued at $4,356,410.52. This represents a 4.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,931,701 shares of company stock worth $373,180,433. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Shares of PLTR traded up $1.02 during trading hours on Friday, hitting $123.31. 65,753,315 shares of the stock were exchanged, compared to its average volume of 77,871,799. Palantir Technologies Inc. has a fifty-two week low of $20.64 and a fifty-two week high of $133.49. The business has a 50-day moving average of $102.66 and a 200-day moving average of $87.81. The firm has a market capitalization of $289.21 billion, a P/E ratio of 649.03, a price-to-earnings-growth 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 EPS for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business's quarterly revenue was up 39.4% on a year-over-year basis. During the same period last year, the company posted $0.08 earnings per share. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Palantir Technologies 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.