1834 Investment Advisors Co. Takes $326,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

1834 Investment Advisors Co. acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 4,305 shares of the company’s stock, valued at approximately $326,000.

A number of other large investors have also recently added to or reduced their stakes in PLTR. State Street Corp raised its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after buying an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% during 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 buying an additional 4,667,955 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after buying an additional 2,984,348 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $78.98 on Monday. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The firm has a market capitalization of $179.92 billion, a P/E ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82. The business’s 50-day simple moving average is $71.96 and its 200-day simple moving average is $49.04.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating 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 firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the company posted $0.03 earnings per share. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLTR. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. 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 note on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird began coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, Wedbush boosted their price target on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.61.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at $353,967,157.74. This represents a 41.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total transaction of $999,200.00. Following the sale, the insider now owns 562,006 shares in the company, valued at $28,077,819.76. This represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,181,807 shares of company stock valued at $1,288,448,522. Company insiders own 12.93% of the company’s stock.

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.