Ritholtz Wealth Management Acquires Shares of 10,681 Palantir Technologies Inc. (NASDAQ:PLTR)

Ritholtz Wealth Management bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,681 shares of the company’s stock, valued at approximately $808,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Palantir Technologies by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after buying an additional 278,544 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Palantir Technologies in the second quarter valued at about $350,000. Mercer Global Advisors Inc. ADV grew its position in shares of Palantir Technologies by 18.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 189,550 shares of the company’s stock valued at $4,728,000 after acquiring an additional 30,030 shares during the period. Amalgamated Bank increased its stake in shares of Palantir Technologies by 5.0% during the 2nd quarter. Amalgamated Bank now owns 135,982 shares of the company’s stock worth $3,444,000 after purchasing an additional 6,472 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Palantir Technologies by 18.4% in the 2nd quarter. Blair William & Co. IL now owns 61,927 shares of the company’s stock worth $1,569,000 after purchasing an additional 9,623 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. The trade was a 34.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock worth $1,444,232,453 in the last 90 days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Trading Up 3.7 %

PLTR opened at $71.77 on Monday. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The stock has a 50-day moving average of $70.49 and a 200 day moving average of $47.32. The firm has a market cap of $163.49 billion, a P/E ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the business earned $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. On average, research analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on PLTR. DA Davidson increased their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald began coverage on shares of Palantir Technologies in a research note on Friday. They issued a “neutral” rating and a $72.00 target price for the company. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. Wedbush lifted their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two 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 $43.78.

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.