Legacy Trust Acquires New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Legacy Trust bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,415 shares of the company’s stock, valued at approximately $258,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RMR Wealth Builders raised its position in shares of Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after acquiring an additional 167 shares in the last quarter. Bay Rivers Group grew its stake in 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 during the last quarter. Christensen King & Associates Investment Services Inc. raised its holdings in 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 worth $486,000 after purchasing an additional 174 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Palantir Technologies by 1.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 14,406 shares of the company’s stock valued at $1,090,000 after buying an additional 196 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its holdings in shares of Palantir Technologies by 4.4% in the 4th quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company’s stock valued at $362,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated 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 transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total value of $999,200.00. Following the transaction, the insider now owns 562,006 shares in the company, valued at $28,077,819.76. This represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent analyst reports. Wedbush boosted their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. 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 report on Monday, November 25th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. Finally, DA Davidson raised their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $44.61.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $79.76 on Thursday. The stock has a market cap of $181.69 billion, a PE ratio of 398.82, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. The firm has a fifty day moving average price of $72.94 and a 200 day moving average price of $50.10. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the business posted $0.03 EPS. The company’s revenue was up 30.0% on a year-over-year basis. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current year.

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.