Magnus Financial Group LLC Purchases 915 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Magnus Financial Group LLC increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,981 shares of the company’s stock after acquiring an additional 915 shares during the quarter. Magnus Financial Group LLC’s holdings in Palantir Technologies were worth $2,116,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. Wolff Wiese Magana LLC boosted its stake in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Financial Management Professionals Inc. grew its stake in Palantir Technologies by 171.5% in the fourth quarter. Financial Management Professionals Inc. now owns 543 shares of the company’s stock valued at $41,000 after purchasing an additional 343 shares in the last quarter. Trivant Custom Portfolio Group LLC increased its holdings in Palantir Technologies by 313.3% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 470 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the 3rd quarter worth about $25,000. Finally, Prestige Wealth Management Group LLC increased 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 worth $27,000 after buying an additional 650 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. Wedbush boosted their price target on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Northland Securities upped their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $43.78.

Insider Activity

In other news, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now owns 100,923 shares in the company, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock valued at $1,444,232,453 in the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $74.46 on Wednesday. The stock has a market cap of $169.63 billion, a PE ratio of 365.37, a price-to-earnings-growth ratio of 6.66 and a beta of 2.82. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The firm’s 50-day simple moving average is $70.98 and its 200 day simple moving average is $48.12.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the business posted $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Palantir Technologies Company 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.