Lazari Capital Management Inc. purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,412 shares of the company's stock, valued at approximately $258,000.
A number of other institutional investors and hedge funds have also made changes to their positions in PLTR. State Street Corp increased its position in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company's stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Palantir Technologies by 3,476.2% during 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 purchasing an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 4,667,955 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Palantir Technologies by 943.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company's stock valued at $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.
Palantir Technologies Price Performance
NASDAQ PLTR opened at $82.49 on Monday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $85.22. The stock's 50-day moving average is $73.71 and its two-hundred day moving average is $51.00. The firm has a market cap of $187.91 billion, a P/E ratio of 412.47, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the company earned $0.03 earnings per share. The business's revenue was up 30.0% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.
Wall Street Analyst Weigh In
PLTR has been the subject of several research reports. Baird R W raised Palantir Technologies to a "hold" rating in a research note on Thursday, December 12th. Argus lowered Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. 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 price objective for the company. Jefferies Financial Group lowered Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. Finally, Mizuho raised their price objective on Palantir Technologies from $37.00 to $44.00 and gave the stock an "underperform" rating in a research note on Friday, December 13th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $44.61.
Check Out Our Latest Stock Report on Palantir Technologies
Insider Buying and Selling at Palantir Technologies
In related news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company's stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now directly owns 100,923 shares in the company, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,181,807 shares of company stock worth $1,288,448,522 over the last three months. Corporate insiders own 12.93% of the company's stock.
About Palantir Technologies
(
Free Report)
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.
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