Successful Portfolios LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Successful Portfolios LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,394 shares of the company’s stock, valued at approximately $257,000.

Several other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Palantir Technologies by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after purchasing an additional 278,544 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Palantir Technologies in the 2nd quarter valued at approximately $350,000. Mercer Global Advisors Inc. ADV raised its holdings in Palantir Technologies by 18.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 189,550 shares of the company’s stock valued at $4,728,000 after acquiring an additional 30,030 shares during the period. Amalgamated Bank lifted its position in shares of Palantir Technologies by 5.0% during the second quarter. Amalgamated Bank now owns 135,982 shares of the company’s stock worth $3,444,000 after acquiring an additional 6,472 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Palantir Technologies by 18.4% in the second quarter. Blair William & Co. IL now owns 61,927 shares of the company’s stock worth $1,569,000 after acquiring an additional 9,623 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

PLTR stock opened at $71.77 on Monday. The company has a market capitalization of $163.49 billion, a PE ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. The company’s 50 day moving average price is $70.49 and its two-hundred day moving average price is $47.32. Palantir Technologies Inc. has a one year low of $16.03 and a one 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. 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%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, research analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PLTR shares. Cantor Fitzgerald assumed coverage on Palantir Technologies in a research note on Friday. They set a “neutral” rating and a $72.00 price objective on the stock. Robert W. Baird initiated coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. UBS Group began coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective for the company. Finally, Wedbush raised 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. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.78.

Insider Activity at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the transaction, the insider now owns 331,369 shares in the company, valued at $14,911,605. This represents a 27.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock worth $1,444,232,453 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Palantir Technologies 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.