Bay Rivers Group Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Bay Rivers Group lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,406 shares of the company’s stock after buying an additional 171 shares during the quarter. Bay Rivers Group’s holdings in Palantir Technologies were worth $484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLTR. State Street Corp raised its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares during the last quarter. FMR LLC boosted its holdings in Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after buying an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the topic of a number of research reports. Robert W. Baird began coverage on Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective on the stock. Morgan Stanley reissued an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Bank of America increased their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $44.61.

Palantir Technologies Price Performance

Shares of PLTR opened at $75.43 on Tuesday. The stock has a market cap of $171.82 billion, a PE ratio of 377.15, a P/E/G ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The firm has a 50-day simple moving average of $71.96 and a two-hundred day simple moving average of $49.18.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the company posted $0.03 EPS. The firm’s revenue was up 30.0% compared to the same quarter last year. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the sale, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,181,807 shares of company stock worth $1,288,448,522. Company insiders own 12.93% of the company’s stock.

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.