Easterly Investment Partners LLC Makes New $345,000 Investment in Palantir Technologies Inc. (NYSE:PLTR)

Easterly Investment Partners LLC purchased a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the first quarter, according to its most recent filing with the SEC. The firm purchased 15,000 shares of the company’s stock, valued at approximately $345,000.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after purchasing an additional 6,466,596 shares during the last quarter. Morgan Stanley grew its position in shares of Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after buying an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after acquiring an additional 1,980,495 shares in the last quarter. ARK Investment Management LLC lifted its position in Palantir Technologies by 16.1% during the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after acquiring an additional 1,514,232 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its stake in Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after acquiring an additional 1,580,548 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Peter Thiel sold 6,285,833 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the sale, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the sale, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,372,153 shares of company stock worth $239,941,245. 12.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PLTR has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 7th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Citigroup lifted their price target on Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a research note on Friday, June 21st. Finally, DA Davidson upped their target price on Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.25.

Palantir Technologies Price Performance

NYSE PLTR traded up $0.61 on Wednesday, hitting $28.00. The company had a trading volume of 20,502,109 shares, compared to its average volume of 55,773,734. The company’s fifty day moving average price is $23.28 and its 200-day moving average price is $21.97. The company has a market capitalization of $62.35 billion, a PE ratio of 229.77, a PEG ratio of 6.40 and a beta of 2.71. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $28.38.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The firm had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.