Trust Point Inc. Buys New Shares 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, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,535 shares of the company’s stock, valued at approximately $419,000.

A number of other large investors also recently modified their holdings of the company. Tritonpoint Wealth LLC boosted its position 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 during the period. Kennebec Savings Bank boosted its position in Palantir Technologies by 29.5% in the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after buying an additional 159 shares during the period. RMR Wealth Builders boosted its position in Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after buying an additional 167 shares during the period. Bay Rivers Group boosted its position in Palantir Technologies by 2.7% in the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after buying an additional 171 shares during the period. Finally, Christensen King & Associates Investment Services Inc. boosted its position in Palantir Technologies by 3.0% in the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock valued at $486,000 after buying an additional 174 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday. 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. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday. Robert W. Baird upped their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $69.44.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $405,875,479.80. The trade was a 41.16 % 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 90 days. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Down 2.4 %

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

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (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 business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the business posted $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.19 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.