Highland Capital Management LLC Buys New Shares in Palantir Technologies Inc. (NYSE:PLTR)

Highland Capital Management LLC acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 61,766 shares of the company’s stock, valued at approximately $1,061,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Palantir Technologies by 22.4% in the first quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock valued at $2,141,931,000 after acquiring an additional 28,563,749 shares in the last quarter. Scout Investments Inc. bought a new position in Palantir Technologies in the 2nd quarter valued at about $199,052,000. Norges Bank bought a new position in Palantir Technologies in the 4th quarter valued at about $39,395,000. Jericho Capital Asset Management L.P. bought a new position in Palantir Technologies in the 2nd quarter valued at about $76,650,000. Finally, Morgan Stanley boosted its position in shares of Palantir Technologies by 26.1% during 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 in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PLTR. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Wednesday, February 14th. Bank of America raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and upped their price objective for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.21.

Palantir Technologies Stock Down 1.6 %

Shares of PLTR stock opened at $24.50 on Thursday. Palantir Technologies Inc. has a 12 month low of $7.28 and a 12 month high of $27.50. The business’s 50 day moving average is $22.40 and its two-hundred day moving average is $19.03. The company has a market cap of $54.21 billion, a PE ratio of 272.25, a price-to-earnings-growth ratio of 6.10 and a beta of 2.82.

Palantir Technologies (NYSE:PLTR) last announced 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 company had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total transaction of $64,440.00. Following the transaction, the director now owns 200,783 shares in the company, valued at $3,234,614.13. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Ryan D. Taylor sold 120,000 shares of the firm’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 in the company, valued at $3,992,120. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total transaction of $64,440.00. Following the completion of the sale, the director now owns 200,783 shares in the company, valued at approximately $3,234,614.13. The disclosure for this sale can be found here. Insiders have sold a total of 7,455,273 shares of company stock worth $184,293,942 over the last 90 days. Insiders own 13.96% of the company’s stock.

Palantir Technologies Company Profile

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.