1834 Investment Advisors Co. Purchases Shares of 4,305 Palantir Technologies Inc. (NASDAQ:PLTR)

1834 Investment Advisors Co. acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,305 shares of the company's stock, valued at approximately $326,000.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Palantir Technologies by 96.4% during the third 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 grew 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 valued at $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised 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 worth $557,365,000 after acquiring an additional 808,444 shares during the period. FMR LLC lifted its holdings in Palantir Technologies by 8.8% in the third 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% in the third 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 owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley reissued an "underweight" rating and issued a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Bank of America raised 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 shares of Palantir Technologies in a research report on Thursday, December 12th. They set a "neutral" rating and a $70.00 price target for the company. Baird R W upgraded shares of Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. Finally, UBS Group began coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They issued a "neutral" rating and a $80.00 target price for the company. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $44.61.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the transaction, the insider now owns 562,006 shares of the company's stock, valued at $28,077,819.76. The trade was a 3.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total transaction of $406,646.46. Following the sale, the director now owns 130,250 shares of the company's stock, valued at approximately $6,576,322.50. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,181,807 shares of company stock worth $1,288,448,522 over the last ninety days. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded down $3.55 during trading hours on Monday, hitting $75.43. 75,822,164 shares of the company's stock traded hands, compared to its average volume of 70,859,719. The company's fifty day simple moving average is $71.96 and its two-hundred day simple moving average is $49.18. The company has a market cap of $171.82 billion, a price-to-earnings ratio of 377.15, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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%. The firm's revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. On average, analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

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.