Prudential PLC boosted its holdings in Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 105.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,240 shares of the company’s stock after buying an additional 31,388 shares during the period. Prudential PLC’s holdings in Palantir Technologies were worth $393,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PLTR. AlphaCrest Capital Management LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at about $206,000. D.A. Davidson & CO. lifted its stake in shares of Palantir Technologies by 18.6% in the 1st quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock valued at $200,000 after purchasing an additional 2,286 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at about $1,475,000. Cibc World Market Inc. lifted its stake in shares of Palantir Technologies by 38.3% in the 1st quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after purchasing an additional 62,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Palantir Technologies by 71.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock valued at $15,832,000 after purchasing an additional 482,171 shares in the last quarter. 31.90% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PLTR has been the topic of several analyst reports. Jefferies Financial Group raised their target price on Palantir Technologies from $8.50 to $10.00 in a report on Tuesday, May 9th. The Goldman Sachs Group dropped their target price on Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, February 14th. Citigroup restated a “sell” rating and set a $5.00 price objective on shares of Palantir Technologies in a report on Friday, February 3rd. DA Davidson assumed coverage on Palantir Technologies in a report on Tuesday, February 28th. They set a “neutral” rating and a $8.00 price objective on the stock. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Monday, March 27th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.54.
Palantir Technologies Stock Performance
Palantir Technologies (NYSE:PLTR – Get Rating) last announced its quarterly earnings results on Monday, February 13th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Palantir Technologies had a negative return on equity of 12.48% and a negative net margin of 12.88%. The company had revenue of $508.62 million during the quarter, compared to analyst estimates of $504.84 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.05 EPS for the current year.
Insiders Place Their Bets
In other Palantir Technologies news, insider Jeffrey Buckley sold 4,636 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $8.55, for a total transaction of $39,637.80. Following the completion of the transaction, the insider now owns 334,051 shares in the company, valued at approximately $2,856,136.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jeffrey Buckley sold 4,636 shares of the company’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $8.55, for a total value of $39,637.80. Following the completion of the sale, the insider now owns 334,051 shares in the company, valued at $2,856,136.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ryan D. Taylor sold 18,700 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $10.05, for a total value of $187,935.00. Following the sale, the insider now directly owns 210,260 shares in the company, valued at $2,113,113. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,513 shares of company stock worth $801,494. 13.71% of the stock is owned by company insiders.
About Palantir Technologies
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.
Read More
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