Graypoint LLC Buys 4,411 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Graypoint LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 61.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,607 shares of the company’s stock after acquiring an additional 4,411 shares during the quarter. Graypoint LLC’s holdings in Palantir Technologies were worth $878,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. State Street Corp boosted its stake 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 worth $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares in the last quarter. FMR LLC boosted its stake in shares of Palantir Technologies by 8.8% during the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of 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 worth $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent analyst reports. Bank of America increased their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Robert W. Baird initiated coverage on Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price for the company. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $42.12.

Palantir Technologies Trading Down 1.4 %

Shares of PLTR opened at $67.26 on Friday. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The stock has a 50 day simple moving average of $68.93 and a 200-day simple moving average of $45.68. The stock has a market cap of $153.22 billion, a PE ratio of 336.32, a PEG ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm posted $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of the firm’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 directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction 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 transaction, the insider now owns 592 shares in the company, valued at $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock valued at $1,444,232,453 in the last three months. Corporate insiders own 12.93% of the company’s stock.

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.