Catalyst Capital Advisors LLC Buys New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Catalyst Capital Advisors LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,694 shares of the company’s stock, valued at approximately $143,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Northern Trust Corp grew its stake in Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Norges Bank purchased a new stake in Palantir Technologies during the 4th quarter valued at about $1,360,191,000. FMR LLC grew its stake in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 309,696 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares of the company’s stock, valued at $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 35,480 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the transaction, the insider directly owned 367,691 shares of the company’s stock, valued at $46,472,465.49. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,497 shares of company stock valued at $186,110,685 in the last ninety days. 9.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on PLTR shares. Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a “buy” rating in a research note on Thursday, June 12th. Morgan Stanley boosted their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Daiwa America upgraded Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. The Goldman Sachs Group boosted their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Finally, Citigroup boosted their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $89.32.

Palantir Technologies Trading Up 1.6%

Shares of PLTR stock opened at $134.27 on Friday. The company has a market capitalization of $316.85 billion, a P/E ratio of 583.76, a P/E/G ratio of 11.47 and a beta of 2.59. The business’s 50 day moving average is $128.47 and its two-hundred day moving average is $101.48. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 earnings per share. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Palantir Technologies Company 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.