Royal Capital Wealth Management LLC Acquires New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Royal Capital Wealth Management LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,200 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds also recently made changes to their positions in PLTR. Norges Bank bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $1,360,191,000. Geode Capital Management LLC boosted its stake in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP boosted its stake in Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after purchasing an additional 3,907,022 shares during the period. Invesco Ltd. boosted its stake in 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 purchasing an additional 3,509,311 shares during the period. Finally, Capital World Investors bought a new position in Palantir Technologies in the 4th quarter worth approximately $253,816,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Down 0.6%

Shares of Palantir Technologies stock opened at $125.59 on Wednesday. The stock’s fifty day moving average is $100.49 and its two-hundred day moving average is $86.30. The company has a market capitalization of $294.55 billion, a PE ratio of 661.03, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 52 week low of $20.63 and a 52 week high of $133.49.

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

Insider Buying and Selling at Palantir Technologies

In other news, 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 transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares in the company, valued at $15,993,370.71. This trade represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,964,290 shares of company stock valued at $250,504,866 in the last quarter. 9.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. William Blair set a $84.00 price target on Palantir Technologies in a research note on Wednesday, March 5th. Royal Bank of Canada restated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target for the company. Jefferies Financial Group upped their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Mizuho upped their price objective on Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $83.95.

Palantir Technologies 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.