Stock Yards Bank & Trust Co. Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Stock Yards Bank & Trust Co. acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,824 shares of the company’s stock, valued at approximately $289,000.

Several other large investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at $876,000. Destiny Wealth Partners LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at $3,233,000. State of Alaska Department of Revenue grew its holdings in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the sale, the director now owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. The trade was a 8.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675 in the last quarter. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $103.83 on Wednesday. The stock’s 50-day moving average is $74.09 and its 200-day moving average is $51.39. The company has a market cap of $236.53 billion, a price-to-earnings ratio of 519.18, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $16.48 and a 12 month high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 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 company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the business posted $0.03 EPS. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. Research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on PLTR shares. 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 report on Thursday, November 7th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $95.00 in a research note on Tuesday. Wedbush increased their price objective on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Royal Bank of Canada increased their price objective on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday. Finally, 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 research note on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average price target of $64.89.

About Palantir Technologies

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.