Cypress Capital Management LLC WY Buys New Position in Palantir Technologies Inc. $PLTR

Cypress Capital Management LLC WY purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) during the 3rd quarter, HoldingsChannel reports. The firm purchased 8,469 shares of the company’s stock, valued at approximately $1,545,000. Palantir Technologies makes up 1.6% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 19th largest holding.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Palantir Technologies by 3.6% during the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after acquiring an additional 7,194,216 shares during the period. State Street Corp boosted its holdings in Palantir Technologies by 6.9% in the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company’s stock valued at $12,879,667,000 after purchasing an additional 6,097,629 shares during the period. Norges Bank acquired a new stake in Palantir Technologies in the 2nd quarter worth $3,307,457,000. Invesco Ltd. increased its holdings in shares of Palantir Technologies by 16.0% during the 2nd quarter. Invesco Ltd. now owns 20,585,256 shares of the company’s stock worth $2,806,182,000 after purchasing an additional 2,838,300 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Palantir Technologies by 3.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 14,042,239 shares of the company’s stock valued at $1,914,238,000 after buying an additional 427,840 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. Phillip Securities initiated coverage on Palantir Technologies in a research report on Thursday, January 22nd. They set a “buy” rating and a $208.00 target price on the stock. Raymond James Financial reiterated a “market perform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Daiwa Capital Markets lifted their price objective on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, CICC Research boosted their target price on shares of Palantir Technologies from $128.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $184.07.

Get Our Latest Analysis on Palantir Technologies

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $165.70 on Wednesday. The company has a market cap of $394.94 billion, a price-to-earnings ratio of 394.53, a P/E/G ratio of 4.21 and a beta of 1.54. The stock’s fifty day moving average price is $176.53 and its two-hundred day moving average price is $173.69. Palantir Technologies Inc. has a 52-week low of $66.12 and a 52-week high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.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 company posted $0.10 earnings per share. The firm’s quarterly revenue was up 62.8% on a year-over-year basis. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 3,400 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $181.35, for a total value of $616,590.00. Following the transaction, the director directly owned 58,687 shares in the company, valued at $10,642,887.45. This represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 19,004 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the completion of the transaction, the insider directly owned 642,786 shares in the company, valued at approximately $100,435,312.50. The trade was a 2.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,023,444 shares of company stock worth $167,394,629. Corporate insiders own 12.93% of the company’s stock.

About Palantir Technologies

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

Further Reading

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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