Evolution Wealth Advisors LLC Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Evolution Wealth Advisors LLC boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 40.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,982 shares of the company’s stock after purchasing an additional 19,715 shares during the period. Palantir Technologies comprises 0.9% of Evolution Wealth Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Evolution Wealth Advisors LLC’s holdings in Palantir Technologies were worth $5,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. Diversify Wealth Management LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $876,000. State of Alaska Department of Revenue increased its stake in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after buying an additional 87,062 shares during the period. Finally, Tyler Stone Wealth Management increased its stake in shares of Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after buying an additional 99,921 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $76.87 on Thursday. The company has a market cap of $175.11 billion, a P/E ratio of 384.37, a PEG ratio of 6.73 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The stock’s fifty day moving average price is $70.98 and its 200-day moving average price is $48.12.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is owned by insiders.

Analyst Ratings Changes

PLTR has been the topic of several research analyst reports. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Wedbush lifted their price target on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. The Goldman Sachs Group lifted their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald assumed coverage on Palantir Technologies in a research report on Friday, January 17th. They set a “neutral” rating and a $72.00 price target on the stock. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.78.

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.