Alan B Lancz & Associates Inc. Makes New $227,000 Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Alan B Lancz & Associates Inc. bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,000 shares of the company’s stock, valued at approximately $227,000.

A number of other large investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC raised its position in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the period. First PREMIER Bank purchased a new stake in Palantir Technologies in the 4th quarter worth about $28,000. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% during 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 during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Mizuho raised their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Morgan Stanley reissued an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research note on Monday, January 6th. Wedbush upped their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday. Bank of America lifted their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $44.61.

Palantir Technologies Price Performance

PLTR stock opened at $78.98 on Friday. The company has a 50-day moving average of $71.96 and a two-hundred day moving average of $48.89. The stock has a market capitalization of $179.92 billion, a price-to-earnings ratio of 394.92, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during 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 revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 EPS. Equities analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies 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 sale, the insider now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were 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. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,518,855 shares of company stock valued at $1,438,682,423. 12.93% of the stock is owned by company insiders.

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.