DAVENPORT & Co LLC Purchases 7,007 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

DAVENPORT & Co LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,623 shares of the company’s stock after purchasing an additional 7,007 shares during the quarter. DAVENPORT & Co LLC’s holdings in Palantir Technologies were worth $5,795,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Tritonpoint Wealth LLC raised its position in shares of Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after acquiring an additional 132 shares during the last quarter. Kennebec Savings Bank grew its stake in Palantir Technologies by 29.5% during the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after purchasing an additional 159 shares during the period. RMR Wealth Builders grew its stake in Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares during the period. Bay Rivers Group grew its stake in Palantir Technologies by 2.7% during the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after purchasing an additional 171 shares during the period. Finally, Christensen King & Associates Investment Services Inc. grew its stake in Palantir Technologies by 3.0% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after purchasing an additional 174 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PLTR. Wedbush raised their target price on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Cantor Fitzgerald started coverage on Palantir Technologies in a research note on Friday, January 17th. They issued a “neutral” rating and a $72.00 price objective for the company. Northland Securities raised their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Bank of America raised their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $44.61.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $83.74 on Tuesday. Palantir Technologies Inc. has a one year low of $16.48 and a one year high of $85.22. The business’s fifty day moving average price is $73.71 and its 200-day moving average price is $51.00. The stock has a market capitalization of $190.76 billion, a PE ratio of 418.72, a P/E/G ratio of 7.54 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the 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. In the last quarter, insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675. Corporate insiders own 12.93% of the company’s stock.

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.