Tortoise Investment Management LLC Takes $34,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

Tortoise Investment Management LLC acquired a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,000 shares of the company’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also modified their holdings of PLTR. Truvestments Capital LLC raised its holdings in shares of Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares during the last quarter. First United Bank & Trust acquired a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $26,000. Pacifica Partners Inc. acquired a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $27,000. GAMMA Investing LLC acquired a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $33,000. Finally, Provence Wealth Management Group purchased a new stake in shares of Palantir Technologies in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 1.3 %

Shares of NYSE PLTR traded up $0.30 during midday trading on Friday, reaching $23.57. 26,618,284 shares of the company were exchanged, compared to its average volume of 33,026,128. Palantir Technologies Inc. has a 1 year low of $13.56 and a 1 year high of $27.50. The stock has a fifty day simple moving average of $22.05 and a 200 day simple moving average of $21.06. The stock has a market cap of $52.49 billion, a P/E ratio of 196.43, a PEG ratio of 5.44 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data 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 return on equity of 8.28% and a net margin of 12.79%. The company had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. As a group, analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research report on Monday, May 6th. Mizuho increased their price objective on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Tuesday, May 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada increased their price objective on Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 7th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.65.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 2,398 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the sale, the insider now directly owns 639,696 shares in the company, valued at approximately $13,625,524.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Heather A. Planishek sold 10,907 shares of Palantir Technologies stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $21.43, for a total transaction of $233,737.01. Following the completion of the transaction, the insider now directly owns 651,099 shares in the company, valued at approximately $13,953,051.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 2,398 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total value of $51,077.40. Following the transaction, the insider now owns 639,696 shares of the company’s stock, valued at $13,625,524.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,374,153 shares of company stock valued at $239,976,945. 12.93% of the stock is owned by corporate insiders.

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.