RB Capital Management LLC Purchases Shares of 3,715 Palantir Technologies Inc. (NASDAQ:PLTR)

RB Capital Management LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,715 shares of the company’s stock, valued at approximately $281,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC lifted its holdings in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after buying an additional 98 shares during the period. Heritage Wealth Management Inc. CA increased its stake in Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after purchasing an additional 111 shares in the last quarter. True Wealth Design LLC increased its stake in Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Westover Capital Advisors LLC increased its stake in Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares in the last quarter. Finally, Tritonpoint Wealth LLC increased its stake in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PLTR shares. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 target price for the company. Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Morgan Stanley upped their target price on shares of 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, Loop Capital upped their target price on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $83.95.

Palantir Technologies Stock Down 4.0%

Shares of PLTR stock opened at $120.58 on Thursday. The firm has a fifty day moving average of $101.18 and a 200-day moving average of $86.53. Palantir Technologies Inc. has a 12-month low of $20.63 and a 12-month high of $133.49. The company has a market capitalization of $282.80 billion, a price-to-earnings ratio of 634.66, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The firm’s revenue was up 39.4% on a year-over-year basis. On average, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares of the company’s stock, valued at $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,945,753 shares of company stock worth $248,608,160. 9.23% of the stock is owned by insiders.

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.