Islay Capital Management LLC Increases Stake in Palantir Technologies Inc. (NYSE:PLTR)

Islay Capital Management LLC grew its stake in Palantir Technologies Inc. (NYSE:PLTR) by 38.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 73,785 shares of the company’s stock after buying an additional 20,464 shares during the quarter. Palantir Technologies comprises 1.0% of Islay Capital Management LLC’s portfolio, making the stock its 28th largest holding. Islay Capital Management LLC’s holdings in Palantir Technologies were worth $1,267,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC raised its position in shares of Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares in the last quarter. Pacifica Partners Inc. acquired a new position in Palantir Technologies during the fourth quarter worth approximately $27,000. GAMMA Investing LLC acquired a new position in Palantir Technologies during the fourth quarter worth approximately $33,000. Provence Wealth Management Group acquired a new position in Palantir Technologies during the third quarter worth approximately $34,000. Finally, Glass Jacobson Investment Advisors llc acquired a new position in Palantir Technologies during the third quarter worth approximately $35,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Down 3.0 %

Shares of NYSE:PLTR traded down $0.68 on Tuesday, hitting $22.15. The company had a trading volume of 19,073,241 shares, compared to its average volume of 61,791,148. Palantir Technologies Inc. has a 52-week low of $7.28 and a 52-week high of $27.50. The business has a 50 day moving average of $23.42 and a 200 day moving average of $20.11. The company has a market cap of $49.01 billion, a PE ratio of 250.47, a PEG ratio of 5.52 and a beta of 2.78.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the completion of the sale, the insider now directly owns 662,006 shares in the company, valued at $17,179,055.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the completion of the sale, the insider now owns 662,006 shares in the company, valued at $17,179,055.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ryan D. Taylor sold 120,000 shares of the 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 owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The disclosure for this sale can be found here. Over 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 insiders.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. Mizuho boosted their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Royal Bank of Canada restated an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a research note on Tuesday, February 6th. Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday. Raymond James lifted their price target on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Finally, Bank of America boosted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.35.

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.