Rafferty Asset Management LLC Boosts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Rafferty Asset Management LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 36.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 942,411 shares of the company's stock after acquiring an additional 250,934 shares during the quarter. Rafferty Asset Management LLC's holdings in Palantir Technologies were worth $71,275,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PLTR. Capital Investment Advisors LLC boosted its stake in shares of Palantir Technologies by 18.4% during the 4th quarter. Capital Investment Advisors LLC now owns 16,263 shares of the company's stock worth $1,230,000 after acquiring an additional 2,526 shares in the last quarter. Cooper Financial Group purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $206,000. Pallas Capital Advisors LLC boosted its stake in shares of Palantir Technologies by 50.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 8,040 shares of the company's stock worth $608,000 after acquiring an additional 2,698 shares in the last quarter. Marcum Wealth LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $229,000. Finally, PSI Advisors LLC boosted its stake in shares of Palantir Technologies by 99.7% during the 4th quarter. PSI Advisors LLC now owns 795 shares of the company's stock worth $60,000 after acquiring an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, insider Heather A. Planishek purchased 10,000 shares of the 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the 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 owns 592 shares of the company's stock, valued at approximately $48,988. This represents a 99.95% 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 worth $250,504,866 in the last ninety days. Insiders own 12.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PLTR shares. Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Robert W. Baird upped their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Bank of America upped their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Mizuho upped their target price on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research note on Tuesday, May 6th. Finally, UBS Group upped their target price on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Stock Up 1.1%

Shares of PLTR stock traded up $1.40 on Friday, reaching $129.52. 55,517,922 shares of the stock were exchanged, compared to its average volume of 76,846,989. The stock has a market cap of $303.77 billion, a P/E ratio of 681.72, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The firm has a 50 day moving average of $98.72 and a two-hundred day moving average of $84.84. Palantir Technologies Inc. has a 1-year low of $20.63 and a 1-year high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business's revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal 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.