Trust Point Inc. Takes $419,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Trust Point Inc. bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, Holdings Channel reports. The fund bought 5,535 shares of the company’s stock, valued at approximately $419,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC lifted its stake in Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares in the last quarter. Kennebec Savings Bank raised its holdings in shares of Palantir Technologies by 29.5% during the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after acquiring an additional 159 shares during the last quarter. RMR Wealth Builders lifted its position in shares of Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after acquiring an additional 167 shares in the last quarter. Bay Rivers Group boosted its stake in shares of Palantir Technologies by 2.7% in the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after acquiring an additional 171 shares during the last quarter. Finally, Christensen King & Associates Investment Services Inc. increased its position in shares of Palantir Technologies by 3.0% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $101.36 on Thursday. The firm’s 50-day moving average is $74.85 and its two-hundred day moving average is $51.92. Palantir Technologies Inc. has a 12 month low of $19.76 and a 12 month high of $106.91. The stock has a market capitalization of $230.90 billion, a P/E ratio of 506.83, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 1,823,602 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $406,004,124.96. This trade represents a 22.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’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 transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 15,653,753 shares of company stock worth $1,039,407,675 over the last three months. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PLTR shares. UBS Group raised their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday. Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday. Mizuho increased their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday. DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wedbush upped their price target on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $69.44.

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.