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

Patton Fund Management Inc. acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 109,679 shares of the company’s stock, valued at approximately $8,295,000. Palantir Technologies accounts for approximately 1.6% of Patton Fund Management Inc.’s investment portfolio, making the stock its 11th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares in the last quarter. First PREMIER Bank bought a new stake in Palantir Technologies during the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC grew 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 buying an additional 265 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies in the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 6.3 %

Shares of Palantir Technologies stock opened at $80.23 on Wednesday. The company has a market cap of $182.77 billion, a PE ratio of 401.17, a P/E/G ratio of 7.08 and a beta of 2.82. The business has a 50 day moving average of $72.59 and a 200 day moving average of $49.89. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period last year, the company posted $0.03 EPS. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the completion of the transaction, the director now directly owns 130,250 shares of the company’s stock, valued at $6,576,322.50. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 sale, the insider now owns 752,786 shares in the company, 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. In the last three months, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. DA Davidson raised their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Wedbush upped their target price on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird initiated coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price on the stock. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.61.

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.