Ethic Inc. Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Ethic Inc. lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 63.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,360 shares of the company’s stock after buying an additional 31,933 shares during the quarter. Ethic Inc.’s holdings in Palantir Technologies were worth $6,229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. First Manhattan CO. LLC. bought a new stake in shares of Palantir Technologies in the 4th quarter worth about $208,000. Fiduciary Trust Co increased its holdings in Palantir Technologies by 2.8% in the fourth quarter. Fiduciary Trust Co now owns 45,888 shares of the company’s stock valued at $3,471,000 after buying an additional 1,271 shares during the last quarter. Fred Alger Management LLC raised its stake in Palantir Technologies by 58.4% during the fourth quarter. Fred Alger Management LLC now owns 482,700 shares of the company’s stock valued at $36,507,000 after buying an additional 178,038 shares in the last quarter. Family Management Corp bought a new position in Palantir Technologies during the 4th quarter worth approximately $204,000. Finally, FWL Investment Management LLC grew its position in shares of Palantir Technologies by 33.9% in the 4th quarter. FWL Investment Management LLC now owns 12,108 shares of the company’s stock worth $916,000 after acquiring an additional 3,067 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. The trade was a 19.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,978,181 shares of company stock worth $252,115,667 in the last ninety days. 9.23% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $117.36 on Friday. Palantir Technologies Inc. has a 12 month low of $20.50 and a 12 month high of $125.41. The firm has a market capitalization of $275.25 billion, a PE ratio of 617.72, a P/E/G ratio of 10.84 and a beta of 2.68. The company’s 50 day simple moving average is $94.23 and its 200 day simple moving average is $81.99.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the previous year, the business earned $0.08 EPS. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Daiwa America raised Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday. Northland Securities lifted their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group increased their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $83.95.

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.