Simon Quick Advisors LLC Boosts Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Simon Quick Advisors LLC raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 28.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,999 shares of the company’s stock after buying an additional 2,430 shares during the period. Simon Quick Advisors LLC’s holdings in Palantir Technologies were worth $832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in PLTR. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC raised its position in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares in the last quarter. Wolff Wiese Magana LLC grew its position in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies in the second quarter worth about $30,000. Finally, Ashburton Jersey Ltd purchased a new position in Palantir Technologies during the 2nd quarter valued at about $36,000. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research reports. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target for the company. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a report on Thursday, November 7th. UBS Group began coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective for the company. Finally, DA Davidson lifted their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.78.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 123,334 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the transaction, the insider now directly owns 331,369 shares in the company, valued at approximately $14,911,605. This trade represents a 27.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 over the last 90 days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $76.87 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The firm has a market capitalization of $175.11 billion, a PE ratio of 384.37, a P/E/G ratio of 6.66 and a beta of 2.82. The stock’s 50-day simple moving average is $70.98 and its 200-day simple moving average is $48.12.

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

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.