RMR Wealth Builders Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

RMR Wealth Builders lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,201 shares of the company’s stock after purchasing an additional 167 shares during the quarter. RMR Wealth Builders’ holdings in Palantir Technologies were worth $545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Natixis Advisors LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter worth about $274,000. Victory Capital Management Inc. boosted its holdings in Palantir Technologies by 18.4% during the 2nd quarter. Victory Capital Management Inc. now owns 660,076 shares of the company’s stock valued at $16,720,000 after acquiring an additional 102,758 shares during the period. Choreo LLC boosted its holdings in Palantir Technologies by 318.2% during the 2nd quarter. Choreo LLC now owns 37,635 shares of the company’s stock valued at $973,000 after acquiring an additional 28,635 shares during the period. LPL Financial LLC boosted its holdings in Palantir Technologies by 16.6% during the 2nd quarter. LPL Financial LLC now owns 2,524,730 shares of the company’s stock valued at $63,951,000 after acquiring an additional 360,008 shares during the period. Finally, Qsemble Capital Management LP boosted its holdings in Palantir Technologies by 105.5% during the 2nd quarter. Qsemble Capital Management LP now owns 52,968 shares of the company’s stock valued at $1,342,000 after acquiring an additional 27,189 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $67.26 on Friday. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The firm has a market capitalization of $153.22 billion, a P/E ratio of 336.32, a P/E/G ratio of 10.18 and a beta of 2.82. The stock has a 50 day moving average price of $68.93 and a 200-day moving average price of $45.68.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company 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 firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 EPS. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock worth $1,444,232,453 in the last 90 days. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PLTR shares. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird started coverage on Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price for the company. Finally, Wedbush upped their price target on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.12.

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.