Trivant Custom Portfolio Group LLC Grows Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Trivant Custom Portfolio Group LLC increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 313.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 620 shares of the company’s stock after purchasing an additional 470 shares during the period. Trivant Custom Portfolio Group LLC’s holdings in Palantir Technologies were worth $47,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its holdings in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the period. Wolff Wiese Magana LLC lifted its stake 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 purchasing an additional 265 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies in the second quarter worth approximately $30,000. Finally, Ashburton Jersey Ltd purchased a new position in shares of Palantir Technologies during the 2nd quarter worth $36,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock valued at $1,444,232,453 in the last ninety days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $71.77 on Friday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The stock has a market capitalization of $163.49 billion, a PE ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. The company’s fifty day moving average is $70.49 and its 200 day moving average is $47.17.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 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 the consensus estimate of $705.11 million. During the same quarter last year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on PLTR. Bank of America lifted their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wedbush lifted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Mizuho raised their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Finally, Northland Securities upped their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. 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 stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $43.78.

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.