RDA Financial Network Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

RDA Financial Network acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,694 shares of the company's stock, valued at approximately $355,000.

Other large investors also recently added to or reduced their stakes in the company. Sard Wealth Management Group LLC acquired a new position in Palantir Technologies in the fourth quarter valued at about $222,000. Decker Retirement Planning Inc. bought a new stake in shares of Palantir Technologies in the 4th quarter valued at $3,397,000. StoneCrest Wealth Management Inc. acquired a new stake in Palantir Technologies during the 4th quarter worth $545,000. Cvfg LLC bought a new position in Palantir Technologies during the fourth quarter worth about $383,000. Finally, Central Valley Advisors LLC acquired a new stake in Palantir Technologies during the 4th quarter worth approximately $223,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PLTR shares. Mizuho boosted their target price on Palantir Technologies from $37.00 to $44.00 and gave the company an "underperform" rating in a research note on Friday, December 13th. Cantor Fitzgerald assumed coverage on shares of Palantir Technologies in a research report on Friday. They issued a "neutral" rating and a $72.00 target price for the company. Bank of America boosted their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Wedbush raised their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, November 25th. Finally, Baird R W upgraded Palantir Technologies to a "hold" rating in a report on Thursday, December 12th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average price target of $43.78.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company's stock, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, 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 insiders.

Palantir Technologies Trading Up 3.7 %

Shares of NASDAQ:PLTR traded up $2.53 during trading on Friday, reaching $71.77. 54,590,923 shares of the stock were exchanged, compared to its average volume of 79,745,712. The firm has a market cap of $163.49 billion, a PE ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The stock has a 50-day moving average price of $70.49 and a 200-day moving average price of $47.17.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced 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. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to analysts' expectations of $705.11 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. Palantir Technologies's quarterly revenue was up 30.0% on a year-over-year basis. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

About Palantir Technologies

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.