Donoghue Forlines LLC Increases Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Donoghue Forlines LLC increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 47.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 29,461 shares of the company’s stock after buying an additional 9,530 shares during the period. Palantir Technologies comprises approximately 0.7% of Donoghue Forlines LLC’s holdings, making the stock its 11th largest position. Donoghue Forlines LLC’s holdings in Palantir Technologies were worth $2,228,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. First PREMIER Bank purchased a new position in shares of Palantir Technologies in the 4th quarter worth $28,000. Wolff Wiese Magana LLC lifted its holdings in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies during the second quarter valued at approximately $30,000. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Mizuho boosted their target price on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. UBS Group began coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective for the company. Robert W. Baird started coverage on Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Bank of America lifted their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.78.

Insiders Place Their Bets

In related news, 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 value of $5,550,030.00. Following the sale, the insider now directly owns 331,369 shares in the company, valued at $14,911,605. The trade was a 27.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, 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 a total of 23,642,189 shares of company stock valued at $1,444,232,453 over the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $77.81 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The company’s 50 day moving average price is $71.30 and its 200 day moving average price is $48.32. The firm has a market capitalization of $177.25 billion, a price-to-earnings ratio of 389.19, a PEG ratio of 6.73 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued 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. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Equities analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

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.