Fifth Third Wealth Advisors LLC Boosts Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Fifth Third Wealth Advisors LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 22,228 shares of the company’s stock after purchasing an additional 287 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Palantir Technologies were worth $1,681,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Thoroughbred Financial Services LLC acquired a new position in Palantir Technologies during the 2nd quarter valued at about $290,000. WINTON GROUP Ltd purchased a new stake in shares of Palantir Technologies during the second quarter worth about $241,000. Dimensional Fund Advisors LP increased its holdings in shares of Palantir Technologies by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after acquiring an additional 278,544 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at approximately $242,000. Finally, WealthPLAN Partners LLC acquired a new stake in Palantir Technologies in the 2nd quarter worth approximately $319,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the transaction, the insider now directly owns 331,369 shares in the company, valued at approximately $14,911,605. This represents a 27.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock worth $1,444,232,453 in the last quarter. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PLTR shares. Bank of America upped their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Morgan Stanley restated an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a research note on Monday, January 6th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Northland Securities raised their price objective on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.12.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $68.14 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The company has a market cap of $155.22 billion, a P/E ratio of 340.72, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. The firm has a 50-day simple moving average of $69.70 and a two-hundred day simple moving average of $46.54.

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 company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the firm posted $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. Equities research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

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.