Blue Trust Inc. Raises Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Blue Trust Inc. raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 17.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,840 shares of the company's stock after purchasing an additional 5,912 shares during the period. Blue Trust Inc.'s holdings in Palantir Technologies were worth $3,013,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC bought a new stake in Palantir Technologies in the fourth quarter worth $876,000. State of Alaska Department of Revenue boosted its position in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company's stock valued at $13,786,000 after buying an additional 68,945 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company's stock valued at $20,146,000 after buying an additional 87,062 shares during the last quarter. Finally, Tyler Stone Wealth Management increased its holdings in shares of Palantir Technologies by 97.9% in the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company's stock worth $7,515,000 after buying an additional 99,921 shares during the period. Institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several analyst reports. Morgan Stanley restated an "underweight" rating and set a $60.00 target price on shares of Palantir Technologies in a report on Monday, January 6th. Baird R W raised Palantir Technologies to a "hold" rating in a research note on Thursday, December 12th. Northland Securities raised their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a "market perform" rating in a report on Tuesday, November 5th. Bank of America upped their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, DA Davidson raised their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $44.61.

Insider Activity at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the firm's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the company's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the completion of the transaction, the insider now owns 562,006 shares in the company, valued at approximately $28,077,819.76. The trade was a 3.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,181,807 shares of company stock valued at $1,288,448,522 in the last three months. Company insiders own 12.93% of the company's stock.

Palantir Technologies Stock Down 4.5 %

Shares of NASDAQ:PLTR traded down $3.55 during trading on Monday, hitting $75.43. The stock had a trading volume of 75,822,164 shares, compared to its average volume of 70,859,719. The company has a market capitalization of $171.82 billion, a PE ratio of 377.15, a PEG ratio of 7.08 and a beta of 2.82. The firm's fifty day moving average is $71.96 and its 200 day moving average is $49.18. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 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 quarter in the prior year, the company earned $0.03 earnings per share. Equities research analysts expect that Palantir Technologies Inc. will post 0.2 EPS 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.