Bay Rivers Group Increases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Bay Rivers Group lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,406 shares of the company’s stock after acquiring an additional 171 shares during the quarter. Bay Rivers Group’s holdings in Palantir Technologies were worth $484,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $876,000. State of Alaska Department of Revenue increased its position in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Finally, Tyler Stone Wealth Management boosted its position in shares of Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Down 4.5 %

Shares of PLTR opened at $75.43 on Tuesday. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The firm has a market capitalization of $171.82 billion, a P/E ratio of 377.15, a PEG ratio of 7.08 and a beta of 2.82. The firm’s 50-day moving average is $71.96 and its two-hundred day moving average is $49.18.

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the completion of the sale, the director now owns 130,250 shares in the company, valued at $6,576,322.50. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. Insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PLTR. Wedbush lifted their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Bank of America increased their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. UBS Group started coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. Finally, Morgan Stanley reiterated an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research note on Monday, January 6th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $44.61.

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.