Flagship Harbor Advisors LLC Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Flagship Harbor Advisors LLC boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 122.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,740 shares of the company’s stock after purchasing an additional 13,068 shares during the period. Flagship Harbor Advisors LLC’s holdings in Palantir Technologies were worth $1,795,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PLTR. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $28,000. Wolff Wiese Magana LLC increased its holdings in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Financial Management Professionals Inc. raised its stake in shares of Palantir Technologies by 171.5% in the fourth quarter. Financial Management Professionals Inc. now owns 543 shares of the company’s stock worth $41,000 after purchasing an additional 343 shares during the last quarter. Trivant Custom Portfolio Group LLC lifted its holdings in shares of Palantir Technologies by 313.3% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 470 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the third quarter valued at approximately $25,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

PLTR opened at $78.98 on Monday. The company’s 50 day simple moving average is $71.96 and its two-hundred day simple moving average is $49.04. The firm has a market capitalization of $179.92 billion, a price-to-earnings ratio of 394.92, 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) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the transaction, the insider now directly owns 562,006 shares in the company, valued at approximately $28,077,819.76. This trade represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,181,807 shares of company stock worth $1,288,448,522. Insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PLTR shares. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. UBS Group initiated coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price for the company. Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Mizuho upped their target price on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research report on Monday, January 6th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $44.61.

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.