Destiny Wealth Partners LLC Purchases Shares of 42,750 Palantir Technologies Inc. (NASDAQ:PLTR)

Destiny Wealth Partners LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 42,750 shares of the company’s stock, valued at approximately $3,233,000.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its position in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its stake in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after buying an additional 2,984,348 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 1.6 %

NASDAQ:PLTR opened at $82.49 on Friday. The firm has a market capitalization of $187.91 billion, a PE ratio of 412.47, a PEG ratio of 7.29 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $85.22. The firm’s fifty day simple moving average is $73.71 and its 200 day simple moving average is $50.69.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data 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 business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the company posted $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLTR. Mizuho increased their price objective on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities boosted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Wedbush increased their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.61.

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total transaction of $999,200.00. Following the transaction, the insider now owns 562,006 shares in the company, valued at approximately $28,077,819.76. The trade was a 3.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company’s stock, 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 sold a total of 20,181,807 shares of company stock worth $1,288,448,522 over the last three months. 12.93% of the stock is currently owned by insiders.

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.