Greenleaf Trust Increases Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Greenleaf Trust raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,539 shares of the company's stock after purchasing an additional 13,567 shares during the period. Greenleaf Trust's holdings in Palantir Technologies were worth $6,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Nadler Financial Group Inc. acquired a new position in Palantir Technologies during the fourth quarter worth about $260,000. Golden State Equity Partners raised its holdings in shares of Palantir Technologies by 1,455.6% during the 4th quarter. Golden State Equity Partners now owns 20,752 shares of the company's stock worth $1,569,000 after acquiring an additional 19,418 shares during the period. Spire Wealth Management boosted its position in shares of Palantir Technologies by 5.2% during the 4th quarter. Spire Wealth Management now owns 97,372 shares of the company's stock valued at $7,364,000 after acquiring an additional 4,846 shares during the last quarter. Journey Strategic Wealth LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $512,000. Finally, DAVENPORT & Co LLC increased its position in Palantir Technologies by 10.1% during the fourth quarter. DAVENPORT & Co LLC now owns 76,623 shares of the company's stock worth $5,795,000 after purchasing an additional 7,007 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Mizuho increased their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an "underperform" rating in a research note on Friday, December 13th. Robert W. Baird started coverage on Palantir Technologies in a research report on Thursday, December 12th. They issued a "neutral" rating and a $70.00 price objective for the company. Northland Securities lifted their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a "market perform" rating in a research report on Tuesday, November 5th. Wedbush increased their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Finally, Morgan Stanley restated an "underweight" rating and issued a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. Seven 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. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $44.61.

Palantir Technologies Stock Performance

NASDAQ PLTR traded up $1.27 during trading on Friday, reaching $82.49. 78,656,959 shares of the company's stock were exchanged, compared to its average volume of 62,463,712. The company has a 50 day moving average price of $73.71 and a two-hundred day moving average price of $50.84. The stock has a market cap of $187.91 billion, a P/E ratio of 412.47, a price-to-earnings-growth ratio of 7.29 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $85.22.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. The firm 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 period in the prior year, the company posted $0.03 earnings per share. Research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at $353,967,157.74. The trade was a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the transaction, the insider now owns 562,006 shares in the company, valued at approximately $28,077,819.76. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,181,807 shares of company stock worth $1,288,448,522 in the last ninety days. 12.93% of the stock is owned by corporate insiders.

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.