Patton Fund Management Inc. Takes $8.30 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Patton Fund Management Inc. purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, HoldingsChannel reports. The fund purchased 109,679 shares of the company’s stock, valued at approximately $8,295,000. Palantir Technologies accounts for about 1.6% of Patton Fund Management Inc.’s holdings, making the stock its 11th biggest position.

Other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in Palantir Technologies by 20.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after buying an additional 9,109 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Palantir Technologies by 14.9% in the second quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after acquiring an additional 1,702 shares during the period. Magnolia Capital Advisors LLC purchased a new position in shares of Palantir Technologies during the second quarter valued at approximately $381,000. Northwestern Mutual Wealth Management Co. lifted its position in Palantir Technologies by 23.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 784,823 shares of the company’s stock valued at $19,880,000 after purchasing an additional 146,652 shares during the period. Finally, Quarry LP boosted its holdings in Palantir Technologies by 193.1% in the second quarter. Quarry LP now owns 4,200 shares of the company’s stock worth $106,000 after purchasing an additional 2,767 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the transaction, the insider now owns 562,006 shares of the company’s stock, valued at $28,077,819.76. The trade was a 3.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,181,807 shares of company stock valued at $1,288,448,522 in the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 6.3 %

PLTR stock opened at $80.23 on Wednesday. The company has a fifty day simple moving average of $72.59 and a two-hundred day simple moving average of $49.89. The firm has a market capitalization of $182.77 billion, a P/E ratio of 401.17, 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 issued its quarterly earnings data 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 business 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 company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Cantor Fitzgerald initiated coverage on shares of Palantir Technologies in a research note on Friday, January 17th. They set a “neutral” rating and a $72.00 target price on the stock. Wedbush increased their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.61.

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.