Avanza Fonder AB Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Avanza Fonder AB bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 64,273 shares of the company's stock, valued at approximately $4,861,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. RMR Wealth Builders lifted its stake in Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company's stock worth $545,000 after acquiring an additional 167 shares during the period. Christensen King & Associates Investment Services Inc. lifted its position in shares of Palantir Technologies by 3.0% in the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company's stock worth $486,000 after purchasing an additional 174 shares during the period. ST Germain D J Co. Inc. boosted its stake in shares of Palantir Technologies by 4.4% during the fourth quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company's stock valued at $362,000 after purchasing an additional 200 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV increased its holdings in Palantir Technologies by 1.2% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company's stock valued at $729,000 after buying an additional 235 shares during the period. Finally, Greater Midwest Financial Group LLC increased its holdings in Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company's stock valued at $3,251,000 after buying an additional 250 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLTR has been the topic of several analyst reports. 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 note on Thursday, November 7th. Robert W. Baird started coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a "neutral" rating and a $70.00 target price for the company. Morgan Stanley reaffirmed an "underweight" rating and issued a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. William Blair reiterated an "underperform" rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Finally, Cantor Fitzgerald assumed coverage on Palantir Technologies in a research report on Friday. They issued a "neutral" rating and a $72.00 price objective for the company. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $43.78.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the transaction, the insider now owns 331,369 shares in the company, valued at approximately $14,911,605. This represents a 27.12 % decrease in their ownership of the stock. The sale 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 stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Up 3.7 %

Shares of NASDAQ:PLTR traded up $2.53 during midday trading on Friday, reaching $71.77. The company's stock had a trading volume of 54,590,923 shares, compared to its average volume of 72,797,000. The stock has a fifty day moving average of $70.22 and a 200 day moving average of $46.85. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The firm has a market capitalization of $163.49 billion, a PE ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. 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. Sell-side analysts anticipate 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.