Park Avenue Securities LLC Raises Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Park Avenue Securities LLC boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 31.2% in the fourth quarter, HoldingsChannel reports. The fund owned 168,232 shares of the company’s stock after purchasing an additional 40,011 shares during the quarter. Park Avenue Securities LLC’s holdings in Palantir Technologies were worth $12,723,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PLTR. Federated Hermes Inc. lifted its holdings in shares of Palantir Technologies by 0.3% during the 2nd quarter. Federated Hermes Inc. now owns 431,667 shares of the company’s stock valued at $10,934,000 after purchasing an additional 1,321 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new stake in Palantir Technologies in the second quarter valued at about $290,000. WINTON GROUP Ltd acquired a new stake in Palantir Technologies in the second quarter worth about $241,000. Dimensional Fund Advisors LP grew its stake in shares of Palantir Technologies by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after acquiring an additional 278,544 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of Palantir Technologies during the second quarter valued at about $242,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several research analyst reports. DA Davidson boosted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Northland Securities upped their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $42.12.

Palantir Technologies Stock Up 1.4 %

Shares of Palantir Technologies stock opened at $65.91 on Wednesday. The firm has a market cap of $150.14 billion, a PE ratio of 329.57, a P/E/G ratio of 10.18 and a beta of 2.82. The business has a 50-day moving average price of $69.70 and a 200 day moving average price of $46.54. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the transaction, the insider now owns 331,369 shares in the company, valued at $14,911,605. The trade was a 27.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies 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.