Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 152,061 shares of the company's stock after purchasing an additional 38,260 shares during the quarter. Merit Financial Group LLC's holdings in Palantir Technologies were worth $11,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp grew its holdings in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company's stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company's stock worth $254,162,000 after buying an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company's stock worth $89,926,000 after buying an additional 3,038,861 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PLTR shares. Argus cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Bank of America upped their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, November 25th. DA Davidson raised their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Robert W. Baird began coverage on Palantir Technologies in a research report on Thursday, December 12th. They issued a "neutral" rating and a $70.00 price objective on the stock. Finally, Baird R W upgraded Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $43.78.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 123,334 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the transaction, the insider now directly owns 331,369 shares in the company, valued at $14,911,605. The trade was a 27.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the 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 sale, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % 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 worth $1,444,232,453. Company insiders own 12.93% of the company's stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $2.53 during mid-day trading on Friday, hitting $71.77. 54,590,923 shares of the company's stock traded hands, compared to its average volume of 79,745,712. The company has a fifty day moving average of $70.49 and a 200 day moving average of $47.17. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The company has a market capitalization of $163.49 billion, a P/E 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 posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. On average, research analysts expect 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.