Palantir Technologies Inc. (NASDAQ:PLTR) Stake Lifted by Graypoint LLC

Graypoint LLC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 61.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,607 shares of the company’s stock after buying an additional 4,411 shares during the quarter. Graypoint LLC’s holdings in Palantir Technologies were worth $878,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. Natixis Advisors LLC bought a new position in Palantir Technologies during the 2nd quarter worth $274,000. Victory Capital Management Inc. grew its stake in Palantir Technologies by 18.4% during the 2nd quarter. Victory Capital Management Inc. now owns 660,076 shares of the company’s stock worth $16,720,000 after buying an additional 102,758 shares during the last quarter. Choreo LLC grew its stake in Palantir Technologies by 318.2% during the 2nd quarter. Choreo LLC now owns 37,635 shares of the company’s stock worth $973,000 after buying an additional 28,635 shares during the last quarter. LPL Financial LLC grew its stake in Palantir Technologies by 16.6% during the 2nd quarter. LPL Financial LLC now owns 2,524,730 shares of the company’s stock worth $63,951,000 after buying an additional 360,008 shares during the last quarter. Finally, Qsemble Capital Management LP grew its stake in Palantir Technologies by 105.5% during the 2nd quarter. Qsemble Capital Management LP now owns 52,968 shares of the company’s stock worth $1,342,000 after buying an additional 27,189 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Down 1.4 %

Shares of Palantir Technologies stock opened at $67.26 on Friday. The stock’s fifty day moving average is $68.93 and its 200-day moving average is $45.68. The firm has a market capitalization of $153.22 billion, a PE ratio of 336.32, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. Analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the transaction, the director now directly owns 130,250 shares in the company, valued at approximately $6,576,322.50. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America boosted their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Robert W. Baird assumed coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target for the company. Finally, Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $42.12.

About Palantir Technologies

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.