Strategic Financial Concepts LLC Takes $14.06 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Strategic Financial Concepts 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. The fund acquired 185,933 shares of the company’s stock, valued at approximately $14,062,000.

Several other institutional investors also recently made changes to their positions in the stock. Tritonpoint Wealth LLC grew its stake in shares of Palantir Technologies by 1.9% during 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 during the period. Kennebec Savings Bank boosted its position in Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after purchasing an additional 159 shares during the period. RMR Wealth Builders boosted its position in Palantir Technologies by 2.4% during the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares during the period. Bay Rivers Group boosted its position in Palantir Technologies by 2.7% during the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after purchasing an additional 171 shares during the period. Finally, Christensen King & Associates Investment Services Inc. boosted its position in Palantir Technologies by 3.0% during the 4th 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 during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $66.77, for a total transaction of $650,740.42. Following the sale, the director now owns 111,644 shares in the company, valued at $7,454,469.88. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,656,687 shares of company stock worth $1,040,105,687 over the last quarter. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $110.85 on Friday. The firm has a market cap of $252.52 billion, a PE ratio of 554.28, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $116.30. The firm’s 50-day simple moving average is $76.46 and its 200-day simple moving average is $52.67.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. Citigroup upped their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America upped their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $95.00 in a research report on Tuesday. Robert W. Baird upped their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average price target 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.