Peachtree Investment Partners LLC Has $3.58 Million Position in Palantir Technologies Inc. $PLTR

Peachtree Investment Partners LLC cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 15.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,117 shares of the company’s stock after selling 3,746 shares during the quarter. Palantir Technologies comprises 1.2% of Peachtree Investment Partners LLC’s portfolio, making the stock its 19th biggest holding. Peachtree Investment Partners LLC’s holdings in Palantir Technologies were worth $3,576,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Palantir Technologies in the 4th quarter valued at $5,149,641,000. Vanguard Group Inc. grew its holdings in Palantir Technologies by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock valued at $39,017,133,000 after buying an additional 8,168,604 shares in the last quarter. State Street Corp grew its holdings in Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after buying an additional 6,777,771 shares in the last quarter. Amundi grew its holdings in Palantir Technologies by 38.7% in the 3rd quarter. Amundi now owns 15,679,158 shares of the company’s stock valued at $2,814,879,000 after buying an additional 4,373,201 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Palantir Technologies by 637.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,459,068 shares of the company’s stock valued at $792,610,000 after buying an additional 3,854,452 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $135.53 on Friday. The stock has a fifty day moving average price of $140.80 and a 200-day moving average price of $154.85. The company has a market cap of $324.91 billion, a price-to-earnings ratio of 152.28, a PEG ratio of 2.25 and a beta of 1.53. Palantir Technologies Inc. has a fifty-two week low of $121.92 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company’s revenue was up 84.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. Research analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Insider Activity

In other news, insider Shyam Sankar sold 165,514 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the sale, the insider directly owned 642,786 shares in the company, valued at approximately $87,444,607.44. This represents a 20.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the sale, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $875,044,378.32. The trade was a 5.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 925,789 shares of company stock worth $126,007,032. 9.53% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Phillip Securities upped their price objective on Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Benchmark assumed coverage on Palantir Technologies in a report on Wednesday, April 1st. They issued a “hold” rating on the stock. UBS Group upped their price objective on Palantir Technologies from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $138.00 price objective on shares of Palantir Technologies in a report on Friday, May 22nd. Finally, Freedom Capital raised Palantir Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

Read Our Latest Stock Report on PLTR

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Profile

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

See Also

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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