Palantir Technologies Inc. (NASDAQ:PLTR) Position Increased by Merit Financial Group LLC

Merit Financial Group LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 33.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,061 shares of the company’s stock after purchasing an additional 38,260 shares during the quarter. Merit Financial Group LLC’s holdings in Palantir Technologies were worth $11,500,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Palantir Technologies by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after acquiring an additional 278,544 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at $350,000. Wealth Alliance bought a new stake in Palantir Technologies in the second quarter worth $247,000. Mercer Global Advisors Inc. ADV increased its position in Palantir Technologies by 18.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 189,550 shares of the company’s stock worth $4,728,000 after buying an additional 30,030 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in Palantir Technologies by 5.0% during the second quarter. Amalgamated Bank now owns 135,982 shares of the company’s stock valued at $3,444,000 after buying an additional 6,472 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $71.77 on Friday. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80. The stock has a fifty day moving average price of $70.22 and a 200 day moving average price of $46.85. The stock has a market cap of $163.49 billion, a P/E ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent analyst reports. DA Davidson upped their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Cantor Fitzgerald began coverage on shares of Palantir Technologies in a research report on Friday. They issued a “neutral” rating and a $72.00 price target on the stock. Mizuho upped their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Finally, Robert W. Baird began coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price on the stock. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.78.

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.