Highland Capital Management LLC Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

Highland Capital Management LLC bought a new position in Palantir Technologies Inc. (NYSE:PLTR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 61,766 shares of the company’s stock, valued at approximately $1,061,000.

A number of other hedge funds have also added to or reduced their stakes in the business. ARK Investment Management LLC increased its holdings in Palantir Technologies by 16.1% in the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after purchasing an additional 1,514,232 shares in the last quarter. PFG Investments LLC increased its holdings in Palantir Technologies by 5.8% in the fourth quarter. PFG Investments LLC now owns 25,870 shares of the company’s stock worth $444,000 after purchasing an additional 1,425 shares in the last quarter. Fiduciary Alliance LLC increased its holdings in Palantir Technologies by 1.0% in the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock worth $1,044,000 after purchasing an additional 618 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Palantir Technologies by 77.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,603 shares of the company’s stock worth $337,000 after purchasing an additional 8,539 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Palantir Technologies by 10.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after purchasing an additional 116,220 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total value of $64,440.00. Following the transaction, the director now owns 200,783 shares of the company’s stock, valued at $3,234,614.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total value of $64,440.00. Following the transaction, the director now owns 200,783 shares of the company’s stock, valued at $3,234,614.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,455,273 shares of company stock worth $184,293,942. 13.96% of the stock is owned by corporate insiders.

Palantir Technologies Trading Down 1.6 %

Shares of Palantir Technologies stock opened at $24.50 on Thursday. The stock has a fifty day simple moving average of $22.40 and a 200 day simple moving average of $19.03. Palantir Technologies Inc. has a 12-month low of $7.28 and a 12-month high of $27.50. The company has a market capitalization of $54.21 billion, a P/E ratio of 272.25, a price-to-earnings-growth ratio of 6.10 and a beta of 2.82.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The company had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. On average, analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent research reports. Mizuho boosted their price objective on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Bank of America boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Royal Bank of Canada restated an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. Finally, Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $10.00 to $20.00 in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $18.21.

Palantir Technologies Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.