Carnegie Investment Counsel Acquires 17,398 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Carnegie Investment Counsel raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 17.2% in the fourth quarter, HoldingsChannel reports. The firm owned 118,701 shares of the company’s stock after buying an additional 17,398 shares during the quarter. Carnegie Investment Counsel’s holdings in Palantir Technologies were worth $8,977,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies during the 3rd quarter valued at approximately $25,000. Prestige Wealth Management Group LLC raised its position in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares in the last quarter. Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the 2nd quarter worth approximately $30,000. Finally, Ashburton Jersey Ltd bought a new position in shares of Palantir Technologies in the 2nd quarter worth approximately $36,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

PLTR stock opened at $69.34 on Friday. The company has a market cap of $157.95 billion, a P/E ratio of 346.70, a price-to-earnings-growth 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. The stock’s fifty day moving average price is $69.95 and its 200-day moving average price is $46.69.

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 analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. As a group, analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLTR. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Morgan Stanley restated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. The Goldman Sachs Group upped their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Bank of America upped their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $42.12.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 123,334 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the transaction, the insider now directly owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. This trade represents a 27.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares in the company, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is owned by company insiders.

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.