Connective Portfolio Management LLC Purchases Shares of 5,020 Palantir Technologies Inc. (NASDAQ:PLTR)

Connective Portfolio Management LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,020 shares of the company’s stock, valued at approximately $380,000.

Several other institutional investors have also recently made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies during the 3rd quarter valued at approximately $25,000. Prestige Wealth Management Group LLC lifted 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 worth $27,000 after purchasing an additional 650 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies during the second quarter valued at about $30,000. Finally, Ashburton Jersey Ltd purchased a new position in shares of Palantir Technologies during the second quarter valued at about $36,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

Shares of PLTR opened at $68.14 on Thursday. The firm has a market capitalization of $155.22 billion, a price-to-earnings ratio of 340.72, 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. The company has a 50-day moving average of $69.70 and a 200 day moving average of $46.54.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly 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. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the subject of a number of research reports. Mizuho increased their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Wedbush raised their target price 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. Bank of America boosted their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. DA Davidson increased their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Northland Securities upped their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $42.12.

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.