Murphy Middleton Hinkle & Parker Inc. Invests $279,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,690 shares of the company's stock, valued at approximately $279,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLTR. RMR Wealth Builders grew its position in Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company's stock valued at $545,000 after purchasing an additional 167 shares during the period. Christensen King & Associates Investment Services Inc. lifted its stake in shares of Palantir Technologies by 3.0% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company's stock valued at $486,000 after buying an additional 174 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings 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 buying an additional 200 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV increased its position in shares of 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 worth $729,000 after acquiring an additional 235 shares in the last quarter. Finally, Greater Midwest Financial Group LLC raised its holdings in shares of Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company's stock worth $3,251,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 123,334 shares of Palantir Technologies stock in a transaction on Friday, October 25th. The stock was 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 directly owns 331,369 shares in the company, valued at approximately $14,911,605. The trade was a 27.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This represents a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock worth $1,444,232,453 over the last quarter. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR traded up $2.53 on Friday, hitting $71.77. 54,590,923 shares of the stock traded hands, compared to its average volume of 79,745,712. The business's fifty day moving average is $70.49 and its two-hundred day moving average is $47.32. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The firm has a market capitalization of $163.49 billion, a price-to-earnings ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted 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. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm's quarterly revenue was up 30.0% compared to the same quarter last year. Analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PLTR shares. UBS Group initiated coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a "neutral" rating and a $80.00 price target for the company. Jefferies Financial Group cut Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Mizuho increased their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an "underperform" rating in a research report on Friday, December 13th. Cantor Fitzgerald initiated coverage on shares of Palantir Technologies in a report on Friday. They set a "neutral" rating and a $72.00 price objective on the stock. Finally, Robert W. Baird started coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a "neutral" rating and a $70.00 target price for the company. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus target price of $43.78.

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.