Federated Hermes Inc. Purchases 286,811 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Federated Hermes Inc. lifted its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 5,559.4% during the fourth quarter, HoldingsChannel reports. The firm owned 291,970 shares of the company’s stock after buying an additional 286,811 shares during the quarter. Federated Hermes Inc.’s holdings in Palantir Technologies were worth $5,013,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fiduciary Alliance LLC grew its stake in Palantir Technologies by 1.0% in the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after acquiring an additional 618 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Palantir Technologies by 2.2% in the 4th quarter. Valeo Financial Advisors LLC now owns 31,371 shares of the company’s stock valued at $539,000 after purchasing an additional 675 shares during the period. Truvestments Capital LLC increased its stake in Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares in the last quarter. Everhart Financial Group Inc. raised its holdings in Palantir Technologies by 6.1% during the 4th quarter. Everhart Financial Group Inc. now owns 12,730 shares of the company’s stock worth $219,000 after buying an additional 734 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in shares of Palantir Technologies by 4.3% in the third quarter. Yousif Capital Management LLC now owns 18,227 shares of the company’s stock valued at $292,000 after buying an additional 750 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the completion of the sale, the insider now owns 662,006 shares of the company’s stock, valued at approximately $17,179,055.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now directly owns 662,006 shares of the company’s stock, valued at approximately $17,179,055.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the transaction, the director now directly owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is owned by insiders.

Analyst Ratings Changes

PLTR has been the topic of several research reports. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research report on Tuesday, February 6th. Bank of America lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Mizuho upped their price target on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Finally, HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a report on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

Shares of PLTR opened at $21.71 on Friday. The firm has a 50-day moving average of $23.49 and a 200-day moving average of $20.01. The company has a market cap of $48.04 billion, a PE ratio of 241.25, a price-to-earnings-growth ratio of 5.29 and a beta of 2.78. Palantir Technologies Inc. has a one year low of $7.28 and a one year high of $27.50.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. Analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

About Palantir Technologies

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.