Avanza Fonder AB Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Avanza Fonder AB purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 64,273 shares of the company’s stock, valued at approximately $4,861,000.

Several other institutional investors have also recently added to or reduced their stakes in PLTR. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter worth about $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the second quarter worth approximately $30,000. Finally, Ashburton Jersey Ltd purchased a new stake in Palantir Technologies in the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $70.69 on Friday. The stock’s fifty day moving average is $70.22 and its two-hundred day moving average is $46.85. The stock has a market capitalization of $161.04 billion, a price-to-earnings ratio of 353.25, a PEG ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year 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, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the business posted $0.03 EPS. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. As a group, analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 123,334 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the transaction, the insider now owns 331,369 shares in the company, valued at $14,911,605. This trade represents a 27.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PLTR shares. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Cantor Fitzgerald started coverage on Palantir Technologies in a report on Friday. They issued a “neutral” rating and a $72.00 price target for the company. Wedbush increased their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Bank of America boosted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, DA Davidson lifted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $43.78.

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.