Fiduciary Trust Co Increases Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Fiduciary Trust Co increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,888 shares of the company’s stock after buying an additional 1,271 shares during the quarter. Fiduciary Trust Co’s holdings in Palantir Technologies were worth $3,471,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PLTR. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Northern Trust Corp grew its position in Palantir Technologies by 20.4% in the 4th 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 during the last quarter. Norges Bank acquired a new position in Palantir Technologies in the 4th quarter valued at $1,360,191,000. FMR LLC raised its position in 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 last quarter. Finally, Invesco Ltd. lifted its stake in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $117.36 on Friday. The firm’s 50-day moving average is $94.23 and its two-hundred day moving average is $81.99. The stock has a market capitalization of $275.25 billion, a P/E ratio of 617.72, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 12-month low of $20.50 and a 12-month high of $125.41.

Palantir Technologies (NASDAQ:PLTR) last released 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 firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same period in the previous year, the company earned $0.08 EPS. Palantir Technologies’s revenue for the quarter was up 39.4% on a year-over-year basis. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on PLTR. DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday. UBS Group lifted their price target on Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday. Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a research report on Tuesday. Finally, Mizuho increased their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the company an “underperform” rating in a report on Tuesday. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $83.95.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,978,181 shares of company stock worth $252,115,667. 9.23% of the stock is currently owned by insiders.

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.