Ellerson Group Inc. ADV Buys New Shares in Palantir Technologies Inc. (NYSE:PLTR)

Ellerson Group Inc. ADV acquired a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the fourth quarter, HoldingsChannel reports. The fund acquired 169,970 shares of the company’s stock, valued at approximately $2,918,000. Palantir Technologies comprises 2.5% of Ellerson Group Inc. ADV’s holdings, making the stock its 19th largest position.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after purchasing an additional 18,756,392 shares during the last quarter. Morgan Stanley lifted its stake in shares of Palantir Technologies by 26.1% during 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. grew its stake in Palantir Technologies by 8.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock valued at $216,183,000 after buying an additional 955,992 shares during the last quarter. Northern Trust Corp raised its holdings in Palantir Technologies by 5.5% in the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after acquiring an additional 601,012 shares during the period. Finally, ARK Investment Management LLC boosted its holdings in shares of Palantir Technologies by 16.1% during the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after acquiring an additional 1,514,232 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on PLTR. Monness Crespi & Hardt raised Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and raised their price target for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Bank of America increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada reiterated an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a research note on Tuesday, February 6th. Finally, Mizuho raised their price objective on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.35.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $18,819,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now owns 181,830 shares in the company, valued at approximately $4,563,933. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $18,819,650. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,476,273 shares of company stock worth $184,783,602. Insiders own 13.96% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR traded up $0.78 during mid-day trading on Friday, reaching $23.33. The company had a trading volume of 55,976,409 shares, compared to its average volume of 32,383,440. The company’s 50 day simple moving average is $23.36 and its 200 day simple moving average is $20.22. The company has a market capitalization of $51.62 billion, a price-to-earnings ratio of 259.25, a P/E/G ratio of 5.53 and a beta of 2.76. Palantir Technologies Inc. has a 1-year low of $7.28 and a 1-year high of $27.50.

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