Donoghue Forlines LLC Grows Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Donoghue Forlines LLC lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 47.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,461 shares of the company’s stock after acquiring an additional 9,530 shares during the quarter. Palantir Technologies makes up approximately 0.7% of Donoghue Forlines LLC’s portfolio, making the stock its 11th largest position. Donoghue Forlines LLC’s holdings in Palantir Technologies were worth $2,228,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PLTR. First PREMIER Bank purchased a new position in shares of Palantir Technologies in the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its stake 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 purchasing an additional 265 shares during the period. Financial Management Professionals Inc. increased its position in shares of Palantir Technologies by 171.5% during the 4th quarter. Financial Management Professionals Inc. now owns 543 shares of the company’s stock valued at $41,000 after purchasing an additional 343 shares during the last quarter. Trivant Custom Portfolio Group LLC raised its stake in shares of Palantir Technologies by 313.3% during the 4th 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 position in shares of Palantir Technologies in the 3rd quarter worth about $25,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated 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 owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock worth $1,444,232,453 over the last quarter. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. UBS Group began coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. DA Davidson increased their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a report on Thursday, November 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.78.

Palantir Technologies Trading Up 1.2 %

Shares of PLTR stock opened at $77.81 on Thursday. The company’s fifty day moving average price is $71.30 and its 200-day moving average price is $48.32. The stock has a market cap of $177.25 billion, a PE ratio of 389.19, a price-to-earnings-growth ratio of 6.73 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 announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

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.