10,550 Shares in Palantir Technologies Inc. (NYSE:PLTR) Purchased by Royal Fund Management LLC

Royal Fund Management LLC bought a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,550 shares of the company’s stock, valued at approximately $181,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Palantir Technologies by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock worth $2,997,419,000 after buying an additional 18,756,392 shares during the last quarter. Morgan Stanley raised its position in shares of Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after buying an additional 4,675,824 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Palantir Technologies by 8.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock valued at $216,183,000 after acquiring an additional 955,992 shares during the last quarter. Northern Trust Corp grew its position in Palantir Technologies by 5.5% during the third quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after acquiring an additional 601,012 shares during the period. Finally, ARK Investment Management LLC increased its stake in Palantir Technologies by 16.1% during the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after acquiring an additional 1,514,232 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research note on Wednesday, February 14th. Wedbush reissued 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. Bank of America upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Raymond James raised their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Finally, Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and upped their target price for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.35.

Palantir Technologies Stock Up 3.5 %

Shares of PLTR traded up $0.78 during trading on Friday, reaching $23.33. The company’s stock had a trading volume of 55,976,409 shares, compared to its average volume of 32,383,440. Palantir Technologies Inc. has a twelve month low of $7.28 and a twelve month high of $27.50. The company has a market cap of $51.62 billion, a price-to-earnings ratio of 259.25, a P/E/G ratio of 5.53 and a beta of 2.76. The company has a fifty day moving average of $23.36 and a two-hundred day moving average of $20.22.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the transaction, the director now owns 181,830 shares in the company, valued at approximately $4,563,933. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now directly owns 181,830 shares in the company, valued at approximately $4,563,933. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now directly owns 70,806,432 shares of the company’s stock, valued at approximately $1,755,291,449.28. The disclosure for this sale can be found here. Insiders sold a total of 7,476,273 shares of company stock valued at $184,783,602 over the last three months. 13.96% of the stock is owned by 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.