Strategic Planning Group LLC Purchases Shares of 38,685 Palantir Technologies Inc. (NASDAQ:PLTR)

Strategic Planning Group LLC acquired 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 firm acquired 38,685 shares of the company's stock, valued at approximately $2,926,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. RMR Wealth Builders raised its stake in shares of 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 in the last quarter. Bay Rivers Group raised its position in shares of Palantir Technologies by 2.7% during the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company's stock valued at $484,000 after acquiring an additional 171 shares in the last quarter. Christensen King & Associates Investment Services Inc. lifted its stake in Palantir Technologies by 3.0% during the fourth 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 last quarter. Geneos Wealth Management Inc. boosted its holdings in Palantir Technologies by 1.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 14,406 shares of the company's stock worth $1,090,000 after purchasing an additional 196 shares during the period. Finally, ST Germain D J Co. Inc. increased its stake in 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 during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now directly owns 62,139 shares of the company's stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 483,987 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the sale, the insider now directly owns 170,273 shares of the company's stock, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wedbush raised their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Mizuho increased their price objective on Palantir Technologies from $37.00 to $44.00 and gave the stock an "underperform" rating in a report on Friday, December 13th. Morgan Stanley reaffirmed an "underweight" rating and set a $60.00 target price on shares of Palantir Technologies in a research note on Monday, January 6th. Robert W. Baird assumed coverage on Palantir Technologies in a research note on Thursday, December 12th. They issued a "neutral" rating and a $70.00 price target for the company. Finally, Jefferies Financial Group downgraded shares of Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price objective for the company. in a report on Thursday, November 7th. 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 stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $44.61.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded up $1.46 during midday trading on Thursday, reaching $81.22. The company had a trading volume of 45,751,701 shares, compared to its average volume of 68,153,742. The company has a fifty day simple moving average of $72.94 and a two-hundred day simple moving average of $50.10. The firm has a market cap of $185.02 billion, a price-to-earnings ratio of 406.12, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business 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 firm earned $0.03 EPS. The firm's quarterly revenue was up 30.0% on a year-over-year basis. Analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current year.

About Palantir Technologies

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.