Patriot Financial Group Insurance Agency LLC Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Patriot Financial Group Insurance Agency LLC increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,811 shares of the company’s stock after buying an additional 1,755 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Palantir Technologies were worth $1,347,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Aspire Capital Advisors LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $332,000. Wealth Effects LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $583,000. Stonegate Investment Group LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $349,000. VCI Wealth Management LLC purchased a new position in Palantir Technologies during the fourth quarter worth about $844,000. Finally, Curbstone Financial Management Corp boosted its stake in Palantir Technologies by 1.5% during the fourth quarter. Curbstone Financial Management Corp now owns 13,640 shares of the company’s stock worth $1,032,000 after buying an additional 200 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $75.93 on Tuesday. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The business’s fifty day moving average price is $72.25 and its two-hundred day moving average price is $49.52. The firm has a market capitalization of $172.97 billion, a PE ratio of 377.15, a P/E/G ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released 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 analysts’ expectations of $705.11 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. Equities research analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. This represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent research reports. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective for the company. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Bank of America raised their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Seven investment 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.