Optas LLC Boosts Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Optas LLC raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 13.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,716 shares of the company’s stock after purchasing an additional 1,136 shares during the quarter. Optas LLC’s holdings in Palantir Technologies were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Sage Advisors LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at $369,000. WealthPlan Investment Management LLC increased its holdings in shares of Palantir Technologies by 145.2% in the 4th quarter. WealthPlan Investment Management LLC now owns 35,805 shares of the company’s stock valued at $2,708,000 after purchasing an additional 21,204 shares in the last quarter. Pitcairn Co. acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $281,000. Kessler Investment Group LLC purchased a new stake in Palantir Technologies during the fourth quarter worth about $7,857,000. Finally, L.M. Kohn & Company acquired a new position in Palantir Technologies during the fourth quarter worth about $550,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 1.6%

Shares of PLTR stock opened at $137.40 on Friday. The company has a market cap of $324.25 billion, a PE ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64. The company’s fifty day simple moving average is $115.48 and its 200-day simple moving average is $94.81. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $140.00.

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

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. This trade represents a 19.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,816,925 shares of company stock worth $215,448,358 in the last 90 days. 9.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Citigroup raised their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. UBS Group boosted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. DA Davidson raised their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley upped their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $86.30.

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.