Syon Capital LLC Invests $431,000 in Palantir Technologies Inc. (NYSE:PLTR)

Syon Capital LLC bought a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the fourth quarter, HoldingsChannel reports. The fund bought 25,084 shares of the company’s stock, valued at approximately $431,000.

A number of other hedge funds have also recently added to or reduced their stakes in PLTR. Vanguard Group Inc. raised its holdings in shares of Palantir Technologies by 11.1% in the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after buying an additional 18,756,392 shares during the last quarter. Morgan Stanley increased its position in Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after acquiring an additional 4,675,824 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Palantir Technologies by 8.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock valued at $216,183,000 after acquiring an additional 955,992 shares during the last quarter. Northern Trust Corp lifted its position in Palantir Technologies by 5.5% during the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock worth $183,979,000 after acquiring an additional 601,012 shares during the period. Finally, ARK Investment Management LLC grew its stake in shares of Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after purchasing an additional 1,514,232 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 5,000 shares of Palantir Technologies stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total transaction of $125,500.00. Following the completion of the transaction, the director now owns 181,830 shares in the company, valued at $4,563,933. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the sale, the director now owns 181,830 shares in the company, valued at approximately $4,563,933. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 32,828 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the completion of the transaction, the insider now directly owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. Insiders own 13.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PLTR. Raymond James upped their price target on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Mizuho upped their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Wedbush reaffirmed an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and increased their price target for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.35.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $22.52 on Friday. Palantir Technologies Inc. has a 12 month low of $7.28 and a 12 month high of $27.50. The firm has a market capitalization of $49.82 billion, a price-to-earnings ratio of 250.19, a price-to-earnings-growth ratio of 5.32 and a beta of 2.78. The business’s 50 day simple moving average is $23.45 and its 200-day simple moving average is $20.05.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.