Syon Capital LLC Takes Position in Palantir Technologies Inc. (NYSE:PLTR)

Syon Capital LLC bought a new position in Palantir Technologies Inc. (NYSE:PLTR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,084 shares of the company’s stock, valued at approximately $431,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC lifted its position in 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 purchasing an additional 700 shares during the last quarter. Pacifica Partners Inc. bought a new position in shares of Palantir Technologies in the 4th quarter valued at about $27,000. GAMMA Investing LLC purchased a new position in Palantir Technologies in the fourth quarter worth about $33,000. Provence Wealth Management Group bought a new stake in Palantir Technologies during the third quarter worth approximately $34,000. Finally, Glass Jacobson Investment Advisors llc bought a new stake in Palantir Technologies during the third quarter worth approximately $35,000. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLTR. Bank of America raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 6th. Mizuho increased their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their target price for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Finally, Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price target for the company from $10.00 to $20.00 in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.35.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at $3,992,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the sale, the insider now directly owns 181,460 shares of the company’s stock, valued at $3,992,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the transaction, the director now owns 181,830 shares in the company, valued at $4,563,933. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $22.52 on Friday. The stock has a market cap of $49.82 billion, a price-to-earnings ratio of 250.19, a price-to-earnings-growth ratio of 5.32 and a beta of 2.78. The firm has a 50-day moving average of $23.45 and a two-hundred day moving average of $20.05. 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 analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The firm had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Research 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.