Monetary Management Group Inc. Buys 5,030 Shares of Palantir Technologies Inc. $PLTR

Monetary Management Group Inc. lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 251.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,030 shares of the company’s stock after purchasing an additional 5,030 shares during the quarter. Monetary Management Group Inc.’s holdings in Palantir Technologies were worth $1,250,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Palantir Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock worth $38,295,188,000 after purchasing an additional 1,557,828 shares in the last quarter. State Street Corp boosted its position in shares of Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after purchasing an additional 6,777,771 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock worth $9,599,882,000 after purchasing an additional 805,047 shares in the last quarter. Norges Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $5,149,641,000. Finally, Invesco Ltd. boosted its position in shares of Palantir Technologies by 5.9% in the 3rd quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock worth $3,976,534,000 after purchasing an additional 1,213,529 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Freedom Capital raised Palantir Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, February 13th. Phillip Securities raised their price objective on Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price objective on shares of Palantir Technologies in a research report on Friday. Citigroup raised their price objective on Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, UBS Group raised their price objective on Palantir Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.76.

Read Our Latest Report on Palantir Technologies

More Palantir Technologies News

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Palantir Technologies Stock Performance

Shares of PLTR opened at $136.47 on Tuesday. The stock has a 50-day moving average of $140.58 and a two-hundred day moving average of $154.52. Palantir Technologies Inc. has a one year low of $122.68 and a one year high of $207.52. The stock has a market cap of $327.16 billion, a P/E ratio of 153.34, a P/E/G ratio of 2.15 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue was up 84.7% compared to the same quarter last year. Analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 165,514 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $22,516,524.56. Following the completion of the transaction, the insider owned 642,786 shares of the company’s stock, valued at $87,444,607.44. The trade was a 20.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $2,674,818.48. Following the completion of the transaction, the insider directly owned 199,759 shares of the company’s stock, valued at approximately $27,175,214.36. This trade represents a 8.96% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 925,789 shares of company stock worth $126,007,032. 9.53% of the stock is currently owned by company insiders.

About Palantir Technologies

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

Further Reading

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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