Legacy Trust Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Legacy Trust purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, Holdings Channel.com reports. The firm purchased 3,415 shares of the company’s stock, valued at approximately $258,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. RMR Wealth Builders grew its stake in Palantir Technologies by 2.4% during the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after acquiring an additional 167 shares in the last quarter. Bay Rivers Group grew its position in shares of Palantir Technologies by 2.7% in the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after purchasing an additional 171 shares in the last quarter. Christensen King & Associates Investment Services Inc. increased its holdings in shares of 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 purchasing an additional 174 shares during the last quarter. Geneos Wealth Management Inc. lifted its position 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 buying an additional 196 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its position 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 worth $362,000 after buying an additional 200 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 0.6 %

Shares of PLTR opened at $79.76 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The company has a market cap of $181.69 billion, a P/E ratio of 398.82, a PEG ratio of 7.08 and a beta of 2.82. The firm’s 50 day moving average price is $72.94 and its 200 day moving average price is $50.10.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period last year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. Research analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PLTR shares. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. UBS Group started coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective for the company. Northland Securities boosted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Bank of America raised their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.61.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the completion of the sale, the director now directly owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. This trade represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is currently owned by company insiders.

About Palantir Technologies

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.