Vestmark Advisory Solutions Inc. Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

Vestmark Advisory Solutions Inc. acquired a new position in Palantir Technologies Inc. (NYSE:PLTR) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 312,938 shares of the company’s stock, valued at approximately $5,373,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock worth $2,997,419,000 after acquiring an additional 18,756,392 shares during the period. Morgan Stanley boosted its position in shares of Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares during the period. KEYWISE CAPITAL MANAGEMENT HK Ltd lifted its stake in Palantir Technologies by 314.7% in the 3rd quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock worth $84,571,000 after acquiring an additional 4,011,100 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Palantir Technologies in the 3rd quarter valued at approximately $55,719,000. Finally, International Assets Investment Management LLC lifted its position in Palantir Technologies by 1,784.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock worth $49,720,000 after buying an additional 2,742,071 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on PLTR shares. Wedbush reissued an “outperform” rating and issued a $35.00 target price (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Monness Crespi & Hardt raised Palantir Technologies from a “sell” rating to a “neutral” rating in a research report on Friday, April 26th. Bank of America increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Mizuho boosted their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Finally, Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their target price for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average price target of $18.35.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the sale, the insider now owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now owns 181,460 shares in the company, valued at $3,992,120. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the sale, the director now owns 1,595,519 shares in the company, valued at $35,133,328.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,476,273 shares of company stock worth $184,783,602. 13.96% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR traded up $0.78 during trading hours on Friday, reaching $23.33. 55,976,409 shares of the company traded hands, compared to its average volume of 32,383,440. The stock’s fifty day moving average is $23.36 and its 200 day moving average is $20.22. Palantir Technologies Inc. has a 1-year low of $7.28 and a 1-year high of $27.50. The stock has a market cap of $51.62 billion, a P/E ratio of 259.25, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The firm had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.