Clear Street LLC Invests $295.51 Million in Palantir Technologies Inc. $PLTR

by · The Markets Daily

Clear Street LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) in the second quarter, HoldingsChannel.com reports. The firm bought 2,167,755 shares of the company’s stock, valued at approximately $295,508,000. Palantir Technologies makes up 1.2% of Clear Street LLC’s portfolio, making the stock its 4th largest position.

Other large investors have also recently made changes to their positions in the company. Signature Resources Capital Management LLC acquired a new stake in Palantir Technologies in the second quarter valued at approximately $25,000. Briaud Financial Planning Inc acquired a new stake in shares of Palantir Technologies in the 2nd quarter worth $27,000. LFA Lugano Financial Advisors SA purchased a new position in Palantir Technologies during the 2nd quarter worth $27,000. Frazier Financial Advisors LLC acquired a new position in Palantir Technologies during the 2nd quarter valued at about $28,000. Finally, MTM Investment Management LLC purchased a new stake in Palantir Technologies in the second quarter valued at about $31,000. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 39,136 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $6,115,000.00. Following the sale, the insider owned 592 shares of the company’s stock, valued at $92,500. This trade represents a 98.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Buckley sold 1,252 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $157.50, for a total transaction of $197,190.00. Following the completion of the transaction, the insider owned 47,044 shares of the company’s stock, valued at approximately $7,409,430. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,029,844 shares of company stock worth $168,161,111. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $181.76 on Friday. The business’s 50-day moving average is $178.99 and its two-hundred day moving average is $161.21. The company has a market capitalization of $433.21 billion, a P/E ratio of 432.77, a P/E/G ratio of 6.90 and a beta of 1.49. Palantir Technologies Inc. has a fifty-two week low of $63.40 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last issued its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company’s revenue was up 62.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. Analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the topic of several recent analyst reports. Royal Bank Of Canada upped their price objective on shares of Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Tuesday, November 4th. CICC Research upped their price target on shares of Palantir Technologies from $128.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Piper Sandler lifted their price objective on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Daiwa Capital Markets upped their target price on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, HSBC lifted their price target on Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $172.28.

View Our Latest Research Report on Palantir Technologies

About Palantir Technologies

(Free Report)

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.

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