Cullinan Associates Inc. Acquires New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Cullinan Associates Inc. acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, Holdings Channel.com reports. The firm acquired 4,000 shares of the company’s stock, valued at approximately $303,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Czech National Bank purchased a new stake in Palantir Technologies during the 3rd quarter worth about $15,261,000. GAMMA Investing LLC increased its holdings in Palantir Technologies by 83.9% during the 3rd quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock worth $213,000 after purchasing an additional 2,607 shares during the period. Azzad Asset Management Inc. ADV purchased a new stake in Palantir Technologies during the 3rd quarter worth about $209,000. Diversified Trust Co increased its holdings in Palantir Technologies by 172.7% during the 3rd quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock worth $802,000 after purchasing an additional 13,652 shares during the period. Finally, Smith Anglin Financial LLC purchased a new stake in Palantir Technologies during the 3rd quarter worth about $273,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday. Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday. DA Davidson increased their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday. Cantor Fitzgerald increased their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $64.89.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,153,753 shares of company stock worth $1,287,042,675 over the last three months. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Up 24.0 %

Palantir Technologies stock opened at $103.83 on Wednesday. Palantir Technologies Inc. has a twelve month low of $16.48 and a twelve month high of $106.91. The stock has a 50 day moving average of $74.09 and a two-hundred day moving average of $51.39. The stock has a market capitalization of $236.53 billion, a price-to-earnings ratio of 519.18, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the business posted $0.03 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. Equities analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share 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.