Stonegate Investment Group LLC Acquires Shares of 4,620 Palantir Technologies Inc. (NASDAQ:PLTR)

Stonegate Investment Group LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,620 shares of the company’s stock, valued at approximately $349,000.

Other large investors have also modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies in the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC boosted its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. First PREMIER Bank acquired a new stake in Palantir Technologies during the 4th quarter valued at $28,000. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies in the 2nd quarter worth $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. This trade represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the transaction, the director now directly owns 130,250 shares in the company, valued at approximately $6,576,322.50. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLTR. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Wedbush lifted their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. UBS Group began coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price for the company. DA Davidson lifted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald began coverage on shares of Palantir Technologies in a report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price target on the stock. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.61.

Palantir Technologies Trading Up 6.3 %

Shares of NASDAQ PLTR opened at $80.23 on Wednesday. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80. The company has a market cap of $182.77 billion, a price-to-earnings ratio of 401.17, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. The stock’s 50 day simple moving average is $72.25 and its 200 day simple moving average is $49.52.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Palantir Technologies 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.