Vident Advisory LLC Buys 477,038 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Vident Advisory LLC grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 50.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,423,176 shares of the company’s stock after buying an additional 477,038 shares during the period. Palantir Technologies accounts for 1.9% of Vident Advisory LLC’s investment portfolio, making the stock its 6th largest holding. Vident Advisory LLC owned about 0.06% of Palantir Technologies worth $107,648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PLTR. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $28,000. HighMark Wealth Management LLC grew its position in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth approximately $31,000. Finally, R Squared Ltd acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $33,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $129.52 on Monday. The business’s fifty day moving average price is $98.72 and its two-hundred day moving average price is $85.43. The stock has a market cap of $303.77 billion, a PE ratio of 681.72, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a one year low of $20.63 and a one year high of $133.49.

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. The firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $48,988. This represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 18,537 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $102.32, for a total value of $1,896,705.84. Following the sale, the insider now owns 493,469 shares in the company, valued at approximately $50,491,748.08. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,964,290 shares of company stock worth $250,504,866. 9.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLTR. Northland Securities increased their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Bank of America raised their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Daiwa Capital Markets started coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective for the company. Morgan Stanley lifted their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Mizuho increased their price target on Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $83.95.

Palantir Technologies Profile

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.