Merit Financial Group LLC Has $11.50 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Merit Financial Group LLC grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 33.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 152,061 shares of the company’s stock after buying an additional 38,260 shares during the quarter. Merit Financial Group LLC’s holdings in Palantir Technologies were worth $11,500,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PLTR. Wolff Wiese Magana LLC increased its position in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its stake in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. PSI Advisors LLC increased its holdings in shares of Palantir Technologies by 99.7% in the fourth quarter. PSI Advisors LLC now owns 795 shares of the company’s stock valued at $60,000 after purchasing an additional 397 shares in the last quarter. Finally, Kings Path Partners LLC bought a new position in Palantir Technologies in the 4th quarter worth approximately $76,000. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a report on Thursday, November 7th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Wedbush raised their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, Cantor Fitzgerald began coverage on shares of Palantir Technologies in a research report on Friday. They set a “neutral” rating and a $72.00 price target for the company. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $43.78.

Palantir Technologies Stock Up 3.7 %

PLTR opened at $71.77 on Friday. The stock has a market cap 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 Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The company has a fifty day simple moving average of $70.22 and a 200 day simple moving average of $46.85.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) 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 period in the prior year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is owned by corporate insiders.

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.