Nuveen Asset Management LLC Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Nuveen Asset Management LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 6.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,219,689 shares of the company's stock after purchasing an additional 332,546 shares during the period. Nuveen Asset Management LLC owned approximately 0.23% of Palantir Technologies worth $394,765,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Capital Investment Advisors LLC boosted its position in Palantir Technologies by 18.4% during the 4th quarter. Capital Investment Advisors LLC now owns 16,263 shares of the company's stock valued at $1,230,000 after buying an additional 2,526 shares during the period. Cooper Financial Group purchased a new stake in Palantir Technologies during the 4th quarter valued at $206,000. Pallas Capital Advisors LLC boosted its position in Palantir Technologies by 50.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 8,040 shares of the company's stock valued at $608,000 after buying an additional 2,698 shares during the period. Marcum Wealth LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at $229,000. Finally, PSI Advisors LLC raised its holdings in Palantir Technologies by 99.7% in the 4th quarter. PSI Advisors LLC now owns 795 shares of the company's stock worth $60,000 after purchasing an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now owns 592 shares in the company, valued at $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexandra W. Schiff sold 6,776 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now owns 184,617 shares in the company, valued at $15,993,370.71. This represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,964,290 shares of company stock worth $250,504,866 over the last quarter. Insiders own 12.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. William Blair set a $84.00 price target on shares of Palantir Technologies in a research note on Wednesday, March 5th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $83.95.

Palantir Technologies Trading Up 1.6%

NASDAQ PLTR opened at $130.18 on Thursday. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49. The stock has a market cap of $305.32 billion, a price-to-earnings ratio of 685.19, a PEG ratio of 10.84 and a beta of 2.68. The company's 50 day moving average is $96.65 and its two-hundred day moving average is $83.69.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million for 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 company's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 earnings per share. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.

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