Toronto Dominion Bank Buys 2,859,091 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Toronto Dominion Bank lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 266.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,932,955 shares of the company’s stock after acquiring an additional 2,859,091 shares during the period. Palantir Technologies makes up approximately 0.5% of Toronto Dominion Bank’s holdings, making the stock its 23rd biggest holding. Toronto Dominion Bank owned 0.17% of Palantir Technologies worth $297,449,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Roxbury Financial LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $27,000. HighMark Wealth Management LLC raised its holdings in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the period. Sierra Ocean LLC bought a new position in Palantir Technologies in the fourth quarter valued at approximately $31,000. R Squared Ltd bought a new position in Palantir Technologies in the fourth quarter valued at approximately $33,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of Palantir Technologies during the fourth quarter worth $34,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 39,825 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $810,271,540.26. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $48,988. The trade was a 99.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,901,701 shares of company stock worth $370,407,533. 9.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PLTR. Jefferies Financial Group upped their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Mizuho upped their price objective on Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Robert W. Baird lifted their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, DA Davidson upped their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.95.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $123.31 on Monday. The company has a 50-day simple moving average of $102.66 and a 200 day simple moving average of $88.04. The company has a market capitalization of $289.21 billion, a P/E ratio of 649.03, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 52-week low of $20.64 and a 52-week high of $133.49.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the firm earned $0.08 EPS. The firm’s revenue was up 39.4% compared to the same quarter last year. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies Company Profile

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.