Bleakley Financial Group LLC Has $3.76 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Bleakley Financial Group LLC increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,645 shares of the company’s stock after buying an additional 2,250 shares during the quarter. Bleakley Financial Group LLC’s holdings in Palantir Technologies were worth $3,755,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Tritonpoint Wealth LLC grew its position in Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after buying an additional 132 shares in the last quarter. Kennebec Savings Bank lifted its stake in Palantir Technologies by 29.5% during the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after purchasing an additional 159 shares during the period. RMR Wealth Builders lifted its stake in Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares during the period. Bay Rivers Group lifted its stake in Palantir Technologies by 2.7% during the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after purchasing an additional 171 shares during the period. Finally, Christensen King & Associates Investment Services Inc. lifted its stake in Palantir Technologies by 3.0% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after purchasing an additional 174 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Robert W. Baird raised their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $95.00 in a research note on Tuesday. Royal Bank of Canada raised their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday. Bank of America raised their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.44.

Insider Activity

In other news, insider Alexander C. Karp sold 1,823,602 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $406,004,124.96. The trade was a 22.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,656,687 shares of company stock valued at $1,040,105,687 in the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $111.28 on Friday. The company has a fifty day moving average price of $75.56 and a two-hundred day moving average price of $52.26. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $111.55. The firm has a market capitalization of $253.50 billion, a PE ratio of 556.43, a P/E/G ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the previous year, the business earned $0.03 EPS. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. Equities analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Palantir Technologies Company 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.