Cypress Capital Management LLC WY Takes $953,000 Position in Palantir Technologies Inc. (NYSE:PLTR)

Cypress Capital Management LLC WY acquired a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 55,529 shares of the company’s stock, valued at approximately $953,000.

Several other hedge funds also recently modified their holdings of the business. Fiduciary Alliance LLC boosted its position in shares of Palantir Technologies by 1.0% in the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after acquiring an additional 618 shares during the period. Golden State Equity Partners boosted its position in shares of Palantir Technologies by 4.6% in the fourth quarter. Golden State Equity Partners now owns 14,435 shares of the company’s stock valued at $248,000 after acquiring an additional 640 shares during the period. Capital Investment Counsel Inc lifted its position in Palantir Technologies by 0.5% in the fourth quarter. Capital Investment Counsel Inc now owns 120,727 shares of the company’s stock worth $2,073,000 after purchasing an additional 650 shares during the period. Valeo Financial Advisors LLC lifted its position in Palantir Technologies by 2.2% in the fourth quarter. Valeo Financial Advisors LLC now owns 31,371 shares of the company’s stock worth $539,000 after purchasing an additional 675 shares during the period. Finally, Larson Financial Group LLC lifted its position in Palantir Technologies by 15.3% in the fourth quarter. Larson Financial Group LLC now owns 5,142 shares of the company’s stock worth $88,000 after purchasing an additional 681 shares during the period. 45.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on PLTR shares. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and raised their target price for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Mizuho raised their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday. Wedbush restated an “outperform” rating and issued a $35.00 target price (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Finally, Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Stock Performance

Palantir Technologies stock traded up $0.25 during midday trading on Monday, reaching $22.77. The stock had a trading volume of 26,655,959 shares, compared to its average volume of 62,259,410. The firm’s fifty day simple moving average is $23.45 and its 200-day simple moving average is $20.08. Palantir Technologies Inc. has a 1-year low of $7.28 and a 1-year high of $27.50. The stock has a market capitalization of $50.38 billion, a P/E ratio of 252.69, a price-to-earnings-growth ratio of 5.52 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last announced its 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 analyst estimates of $603.48 million. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the sale, the director now owns 181,830 shares in the company, valued at approximately $4,563,933. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the sale, the director now directly owns 181,830 shares in the company, valued at $4,563,933. The disclosure for this sale can be found here. Insiders have sold a total of 7,456,273 shares of company stock worth $184,343,202 in the last 90 days. Corporate insiders own 13.96% of the company’s stock.

Palantir Technologies Profile

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.