Cypress Capital Management LLC WY Purchases New Holdings in Palantir Technologies Inc. $PLTR

Cypress Capital Management LLC WY acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,469 shares of the company’s stock, valued at approximately $1,545,000. Palantir Technologies accounts for 1.6% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 19th largest position.

Several other large investors also recently added to or reduced their stakes in PLTR. Occidental Asset Management LLC grew its holdings in shares of Palantir Technologies by 2.8% during the third quarter. Occidental Asset Management LLC now owns 1,964 shares of the company’s stock valued at $358,000 after buying an additional 53 shares in the last quarter. Lionshead Wealth Management LLC boosted its position in Palantir Technologies by 0.4% during the 3rd quarter. Lionshead Wealth Management LLC now owns 13,130 shares of the company’s stock worth $2,395,000 after acquiring an additional 56 shares during the period. Ellenbecker Investment Group grew its stake in Palantir Technologies by 3.6% during the 3rd quarter. Ellenbecker Investment Group now owns 1,619 shares of the company’s stock valued at $295,000 after acquiring an additional 57 shares in the last quarter. Traveka Wealth LLC increased its holdings in shares of Palantir Technologies by 1.6% in the 3rd quarter. Traveka Wealth LLC now owns 3,695 shares of the company’s stock valued at $674,000 after purchasing an additional 57 shares during the period. Finally, Market Street Wealth Management Advisors LLC increased its holdings in shares of Palantir Technologies by 4.0% in the 3rd quarter. Market Street Wealth Management Advisors LLC now owns 1,539 shares of the company’s stock valued at $281,000 after purchasing an additional 59 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on PLTR. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Citigroup raised shares of Palantir Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $210.00 to $235.00 in a research note on Monday, January 12th. Royal Bank Of Canada boosted their price target 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. CICC Research increased their price objective on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, DA Davidson boosted their target price on Palantir Technologies from $170.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $184.07.

View Our Latest Report on PLTR

Palantir Technologies Trading Down 1.1%

PLTR stock opened at $165.70 on Wednesday. Palantir Technologies Inc. has a 1 year low of $66.12 and a 1 year high of $207.52. The company has a fifty day simple moving average of $176.53 and a 200 day simple moving average of $173.69. The firm has a market cap of $394.94 billion, a PE ratio of 394.53, a PEG ratio of 4.21 and a beta of 1.54.

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

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 149,872 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 642,786 shares in the company, valued at approximately $105,410,476.14. The trade was a 18.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 308,635 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $50,613,053.65. Following the sale, the insider directly owned 592 shares of the company’s stock, valued at $97,082.08. The trade was a 99.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,023,444 shares of company stock worth $167,394,629 in the last three months. 12.93% of the stock is owned by insiders.

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Palantir Technologies Profile

(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

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

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