Burns J W & Co. Inc. NY Grows Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Burns J W & Co. Inc. NY grew its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 11.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,477 shares of the company’s stock after acquiring an additional 1,602 shares during the period. Burns J W & Co. Inc. NY’s holdings in Palantir Technologies were worth $1,306,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Northern Trust Corp increased its position in shares of Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after buying an additional 3,299,779 shares in the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. FMR LLC raised its stake in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after buying an additional 2,818,090 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 6,776 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now directly owns 184,617 shares in the company, valued at approximately $15,993,370.71. This represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 592 shares of the company’s stock, valued at $48,988. The trade was a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,901,701 shares of company stock worth $370,407,533. Insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $126.63 on Friday. The stock’s fifty day moving average is $105.90 and its two-hundred day moving average is $89.86. The firm has a market capitalization of $298.84 billion, a P/E ratio of 666.51, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $133.49.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. UBS Group lifted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.95.

About Palantir Technologies

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.