Beacon Financial Advisory LLC Takes $339,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Beacon Financial Advisory LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,481 shares of the company’s stock, valued at approximately $339,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC bought a new stake in Palantir Technologies in the 4th quarter worth approximately $876,000. Destiny Wealth Partners LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at $3,233,000. State of Alaska Department of Revenue lifted its holdings in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after buying an additional 87,062 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $66.77, for a total transaction of $650,740.42. Following the completion of the transaction, the director now owns 111,644 shares in the company, valued at $7,454,469.88. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,656,687 shares of company stock valued at $1,040,105,687 in the last 90 days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $111.28 on Friday. The firm has a market cap of $253.50 billion, a P/E ratio of 556.43, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $111.55. The company has a 50 day simple moving average of $75.56 and a two-hundred day simple moving average of $52.26.

Palantir Technologies (NASDAQ:PLTR) last posted its 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. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period last year, the company posted $0.03 earnings per share. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Jefferies Financial Group upped their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday. DA Davidson increased their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday. Northland Securities upped their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Bank of America lifted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Company 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.