Synergy Asset Management LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,897 shares of the company's stock, valued at approximately $503,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Trust acquired a new position in Palantir Technologies during the 4th quarter valued at about $258,000. Strategic Planning Group LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $2,926,000. Ibex Wealth Advisors purchased a new stake in Palantir Technologies in the 4th quarter valued at $13,417,000. Swedbank AB bought a new position in Palantir Technologies during the 4th quarter valued at $31,491,000. Finally, Allen Capital Group LLC purchased a new position in Palantir Technologies during the 4th quarter worth $287,000. 45.65% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm's stock in a transaction dated 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 directly owns 6,432,258 shares of the company's stock, valued at approximately $353,967,157.74. This trade represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the sale, the insider now owns 562,006 shares of the company's stock, valued at $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. 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 over the last 90 days. Insiders own 12.93% of the company's stock.
Palantir Technologies Trading Up 1.8 %
Shares of Palantir Technologies stock traded up $1.46 during trading on Thursday, hitting $81.22. The stock had a trading volume of 45,751,701 shares, compared to its average volume of 68,153,742. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The firm has a market cap of $185.02 billion, a price-to-earnings ratio of 406.12, a P/E/G ratio of 7.08 and a beta of 2.82. The business's 50-day moving average is $72.94 and its 200 day moving average is $50.10.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating 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 firm had revenue of $725.52 million for the quarter, compared to analysts' expectations of $705.11 million. During the same quarter last year, the firm posted $0.03 EPS. The company's revenue was up 30.0% compared to the same quarter last year. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Argus lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report 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 report on Monday, November 25th. UBS Group began coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a "neutral" rating and a $80.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, William Blair reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average target price of $44.61.
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Palantir Technologies Company Profile
(
Free Report)
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.
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