Spectrum Planning & Advisory Services Inc. Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Spectrum Planning & Advisory Services Inc. bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,888 shares of the company’s stock, valued at approximately $294,000.

A number of other large investors have also modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC increased its stake in Palantir Technologies by 10.9% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 17,811 shares of the company’s stock worth $1,347,000 after buying an additional 1,755 shares during the period. Aspire Capital Advisors LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $332,000. Wealth Effects LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $583,000. Stonegate Investment Group LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $349,000. Finally, VCI Wealth Management LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $844,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $80.23 on Wednesday. The stock has a market capitalization of $182.77 billion, a price-to-earnings ratio of 401.17, a PEG ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The company has a 50 day moving average price of $72.25 and a 200 day moving average price of $49.52.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business 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 quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wedbush raised their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.61.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $50,128,019.74. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,181,807 shares of company stock valued at $1,288,448,522 over the last three months. 12.93% of the stock is owned by corporate insiders.

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.