Contravisory Investment Management Inc. Makes New $755,000 Investment in Palantir Technologies Inc. $PLTR

Contravisory Investment Management Inc. bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,139 shares of the company’s stock, valued at approximately $755,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Dakota Community Bank & Trust NA acquired a new position in Palantir Technologies during the third quarter worth about $59,000. Central Valley Advisors LLC lifted its stake in Palantir Technologies by 89.0% in the 3rd quarter. Central Valley Advisors LLC now owns 4,165 shares of the company’s stock worth $760,000 after purchasing an additional 1,961 shares in the last quarter. Riversedge Advisors LLC lifted its stake in Palantir Technologies by 4.0% in the 3rd quarter. Riversedge Advisors LLC now owns 22,754 shares of the company’s stock worth $4,151,000 after purchasing an additional 884 shares in the last quarter. Sheets Smith Investment Management boosted its holdings in shares of Palantir Technologies by 9.8% during the 3rd quarter. Sheets Smith Investment Management now owns 16,398 shares of the company’s stock worth $2,991,000 after purchasing an additional 1,459 shares during the last quarter. Finally, FCG Investment Co grew its position in shares of Palantir Technologies by 49.0% in the third quarter. FCG Investment Co now owns 14,233 shares of the company’s stock valued at $2,596,000 after purchasing an additional 4,679 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies 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 completion of the transaction, the insider directly owned 251,409 shares in the company, valued at approximately $40,818,765.24. This trade represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 9,000 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $185.91, for a total value of $1,673,190.00. Following the transaction, the insider directly owned 413,639 shares of the company’s stock, valued at $76,899,626.49. The trade was a 2.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,008,844 shares of company stock valued at $164,750,951. 9.23% of the stock is owned by company insiders.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $185.69 on Friday. The stock has a market capitalization of $442.58 billion, a P/E ratio of 442.13, a PEG ratio of 6.87 and a beta of 1.49. The firm’s 50-day moving average is $179.38 and its two-hundred day moving average is $164.99. Palantir Technologies Inc. has a 12 month low of $63.40 and a 12 month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm earned $0.10 EPS. The business’s revenue was up 62.8% on a year-over-year basis. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on PLTR shares. UBS Group lifted their price objective on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. CICC Research lifted their price target on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Wall Street Zen lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Daiwa Capital Markets raised their price objective on shares of Palantir Technologies from $178.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, Bank of America boosted their target price on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.