Intellectus Partners LLC Acquires 8,000 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Intellectus Partners LLC raised its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 14.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,319 shares of the company’s stock after purchasing an additional 8,000 shares during the quarter. Intellectus Partners LLC’s holdings in Palantir Technologies were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PLTR. DAVENPORT & Co LLC lifted its position in shares of Palantir Technologies by 8.3% during the 3rd quarter. DAVENPORT & Co LLC now owns 55,852 shares of the company’s stock valued at $894,000 after buying an additional 4,300 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Palantir Technologies by 0.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 381,075 shares of the company’s stock worth $6,097,000 after purchasing an additional 1,000 shares during the period. Valeo Financial Advisors LLC boosted its stake in Palantir Technologies by 25.8% in the 3rd quarter. Valeo Financial Advisors LLC now owns 30,696 shares of the company’s stock worth $491,000 after purchasing an additional 6,295 shares during the period. InTrack Investment Management Inc bought a new position in Palantir Technologies in the 3rd quarter worth about $183,000. Finally, Linden Thomas Advisory Services LLC bought a new position in Palantir Technologies in the 3rd quarter worth about $892,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NYSE PLTR traded up $0.81 during mid-day trading on Friday, hitting $22.52. 33,119,766 shares of the stock traded hands, compared to its average volume of 33,231,036. Palantir Technologies Inc. has a 52 week low of $7.28 and a 52 week high of $27.50. The company has a market cap of $49.83 billion, a price-to-earnings ratio of 250.25, a PEG ratio of 5.52 and a beta of 2.78. The stock has a fifty day moving average price of $23.45 and a 200-day moving average price of $20.06.

Palantir Technologies (NYSE:PLTR) last released its 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). The company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares in the company, valued at $3,992,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares in the company, valued at $3,992,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The disclosure for this sale can be found here. Insiders have sold a total of 7,456,273 shares of company stock valued at $184,343,202 over the last ninety days. 13.96% of the stock is currently owned by corporate insiders.

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.