City Center Advisors LLC Makes New $560,000 Investment in Palantir Technologies Inc. $PLTR

City Center Advisors LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 3,072 shares of the company’s stock, valued at approximately $560,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Revolve Wealth Partners LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $450,000. Bison Wealth LLC raised its position in Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock valued at $1,296,000 after purchasing an additional 4,667 shares during the period. Capstone Wealth Management Group LLC lifted its stake in Palantir Technologies by 38.0% during the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock worth $1,447,000 after purchasing an additional 4,722 shares in the last quarter. Algert Global LLC acquired a new position in Palantir Technologies during the first quarter worth $2,246,000. Finally, Freestone Capital Holdings LLC boosted its position in shares of Palantir Technologies by 3.5% during the first quarter. Freestone Capital Holdings LLC now owns 12,696 shares of the company’s stock worth $1,072,000 after buying an additional 429 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

PLTR stock opened at $183.25 on Tuesday. The company’s 50 day moving average price is $179.39 and its 200 day moving average price is $164.33. The firm has a market capitalization of $436.76 billion, a price-to-earnings ratio of 436.32, a PEG ratio of 7.12 and a beta of 1.49. Palantir Technologies Inc. has a fifty-two week low of $63.40 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 62.8% on a year-over-year basis. Equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $162.36, for a total value of $5,852,753.28. Following the sale, the insider directly owned 251,409 shares in the company, valued at $40,818,765.24. This trade represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 149,872 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $24,577,509.28. Following the transaction, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $105,410,476.14. This represents a 18.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,008,844 shares of company stock valued at $164,676,161 over the last ninety days. Company insiders own 9.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PLTR shares. Piper Sandler boosted their price objective on Palantir Technologies from $201.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $141.00 to $188.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada lifted their price objective on shares of Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Tuesday, November 4th. Finally, CICC Research increased their target price on shares of Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Four investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $172.28.

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.