Alan B Lancz & Associates Inc. Acquires Shares of 3,000 Palantir Technologies Inc. (NASDAQ:PLTR)

Alan B Lancz & Associates Inc. bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,000 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp lifted its holdings in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after acquiring an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Palantir Technologies by 943.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PLTR. Mizuho lifted their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Northland Securities raised their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. DA Davidson boosted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, UBS Group started coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target on the stock. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $44.61.

Insiders Place Their Bets

In related news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,518,855 shares of company stock worth $1,438,682,423. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $78.98 on Friday. The firm has a market capitalization of $179.92 billion, a P/E ratio of 394.92, a PEG ratio of 7.08 and a beta of 2.82. The business has a 50-day moving average of $71.96 and a 200-day moving average of $48.89. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the business posted $0.03 earnings per share. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. Research analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

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.