Pallas Capital Advisors LLC Grows Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Pallas Capital Advisors LLC increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 50.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,040 shares of the company’s stock after purchasing an additional 2,698 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Palantir Technologies were worth $608,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PLTR. Charles Schwab Investment Management Inc. increased its holdings in shares of Palantir Technologies by 60.5% in 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 purchasing an additional 4,667,955 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares during the period. Tyler Stone Wealth Management boosted its position in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after acquiring an additional 99,921 shares during the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Palantir Technologies in the third quarter valued at about $639,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on PLTR shares. Bank of America lifted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. DA Davidson raised their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, Robert W. Baird began coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $42.12.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 123,334 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $14,911,605. This represents a 27.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’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 sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock worth $1,444,232,453 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 1.4 %

NASDAQ:PLTR opened at $65.91 on Wednesday. The stock has a fifty day moving average price of $69.70 and a 200 day moving average price of $46.54. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80. The firm has a market cap of $150.14 billion, a PE ratio of 329.57, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the business posted $0.03 EPS. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. Equities analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

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.