Stonegate Investment Group LLC Takes $349,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Stonegate Investment Group LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,620 shares of the company’s stock, valued at approximately $349,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLTR. RMR Wealth Builders lifted its stake in shares of Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after buying an additional 167 shares during the period. Bay Rivers Group raised its stake in shares of Palantir Technologies by 2.7% in the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after buying an additional 171 shares in the last quarter. Christensen King & Associates Investment Services Inc. increased its stake in Palantir Technologies by 3.0% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock valued at $486,000 after acquiring an additional 174 shares during the period. Geneos Wealth Management Inc. lifted its stake in Palantir Technologies by 1.4% during 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. boosted its holdings 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 in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was 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 of the company’s stock, valued at approximately $28,077,819.76. The trade was a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the sale, the director now directly owns 130,250 shares in the company, valued at approximately $6,576,322.50. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,181,807 shares of company stock valued at $1,288,448,522. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 6.3 %

NASDAQ:PLTR opened at $80.23 on Wednesday. The stock’s fifty day simple moving average is $72.25 and its 200-day simple moving average is $49.52. The firm has a market capitalization of $182.77 billion, a P/E ratio of 401.17, a P/E/G ratio of 7.08 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.

Palantir Technologies (NASDAQ:PLTR) last posted its 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. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Palantir Technologies in a report on Friday, January 17th. They set a “neutral” rating and a $72.00 price target for the company. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities lifted their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, Wedbush increased their target price on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Seven equities 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. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus 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.