48,402 Shares in Palantir Technologies Inc. (NYSE:PLTR) Bought by High Note Wealth LLC

High Note Wealth LLC bought a new position in Palantir Technologies Inc. (NYSE:PLTR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 48,402 shares of the company’s stock, valued at approximately $831,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaCrest Capital Management LLC bought a new stake in Palantir Technologies during the 1st quarter worth about $206,000. D.A. Davidson & CO. lifted its stake in Palantir Technologies by 18.6% in the 1st quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock valued at $200,000 after purchasing an additional 2,286 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Palantir Technologies in the 1st quarter valued at about $1,475,000. Cibc World Market Inc. lifted its stake in Palantir Technologies by 38.3% in the 1st quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after purchasing an additional 62,814 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Palantir Technologies by 71.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock valued at $15,832,000 after purchasing an additional 482,171 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR opened at $24.50 on Thursday. The firm has a market cap of $54.21 billion, a PE ratio of 272.25, a price-to-earnings-growth ratio of 6.10 and a beta of 2.82. The firm’s fifty day moving average is $22.40 and its 200-day moving average is $19.03. Palantir Technologies Inc. has a 52 week low of $7.28 and a 52 week high of $27.50.

Palantir Technologies (NYSE:PLTR) last released its 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 net margin of 9.43% and a return on equity of 6.17%. The firm had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PLTR. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Raymond James raised their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Finally, HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.21.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 29,168 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $18,819,650. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total transaction of $64,440.00. Following the completion of the sale, the director now directly owns 200,783 shares of the company’s stock, valued at $3,234,614.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,455,273 shares of company stock valued at $184,293,942. Corporate insiders own 13.96% of the company’s stock.

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.