Park Avenue Securities LLC Acquires 40,011 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Park Avenue Securities LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 31.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,232 shares of the company’s stock after buying an additional 40,011 shares during the period. Park Avenue Securities LLC’s holdings in Palantir Technologies were worth $12,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. State Street Corp boosted its holdings in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC lifted its position 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in 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 valued at $557,365,000 after buying an additional 808,444 shares during the last quarter. FMR LLC grew its holdings in Palantir Technologies by 8.8% during the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in 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 worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. This represents a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of Palantir Technologies stock in a transaction on Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the transaction, the insider now owns 331,369 shares in the company, valued at $14,911,605. This represents a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $65.91 on Wednesday. The firm has a market capitalization of $150.14 billion, a price-to-earnings ratio of 329.57, a PEG ratio of 10.18 and a beta of 2.82. The company has a 50-day moving average of $69.70 and a 200 day moving average of $46.54. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80.

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, topping the consensus estimate of $0.09 by $0.01. The company 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%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley reiterated an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. Bank of America lifted their price objective 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. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. DA Davidson increased their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird began coverage on Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective on the stock. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies 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.