Raleigh Capital Management Inc. Purchases 2,433 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Raleigh Capital Management Inc. boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 123.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,404 shares of the company’s stock after acquiring an additional 2,433 shares during the period. Raleigh Capital Management Inc.’s holdings in Palantir Technologies were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its stake in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares during the period. FMR LLC grew its holdings in shares of Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Mizuho raised their price objective on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. DA Davidson raised their price target 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. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley reissued an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a report on Monday, January 6th. Finally, Cantor Fitzgerald began coverage on shares of Palantir Technologies in a research report on Friday, January 17th. They set a “neutral” rating and a $72.00 target price for the company. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $78.98 on Friday. The stock has a fifty day moving average price of $71.30 and a 200 day moving average price of $48.32. The stock has a market cap of $179.92 billion, a PE ratio of 394.92, a P/E/G ratio of 6.73 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS 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 business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This represents a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock worth $1,438,682,423 over the last ninety days. 12.93% of the stock is currently owned by insiders.

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.