DMC Group LLC Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

DMC Group LLC raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 28,480 shares of the company’s stock after purchasing an additional 2,768 shares during the quarter. Palantir Technologies makes up approximately 1.8% of DMC Group LLC’s holdings, making the stock its 9th largest holding. DMC Group LLC’s holdings in Palantir Technologies were worth $2,154,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. RMR Wealth Builders increased its holdings in Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after purchasing an additional 167 shares during the last quarter. Bay Rivers Group grew its position in shares of Palantir Technologies by 2.7% during the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after buying an additional 171 shares during the period. Christensen King & Associates Investment Services Inc. increased its stake in shares of 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 acquiring an additional 174 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Palantir Technologies by 1.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 14,406 shares of the company’s stock valued at $1,090,000 after acquiring an additional 196 shares during the period. Finally, ST Germain D J Co. Inc. grew its holdings in Palantir Technologies by 4.4% during the fourth quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company’s stock valued at $362,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Down 0.6 %

PLTR opened at $79.76 on Thursday. The stock’s fifty day simple moving average is $72.94 and its 200 day simple moving average is $50.10. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The stock has a market cap of $181.69 billion, a PE ratio of 398.82, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82.

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

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total transaction of $406,646.46. Following the sale, the director now owns 130,250 shares of the company’s stock, valued at $6,576,322.50. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,181,807 shares of company stock worth $1,288,448,522 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on Palantir Technologies in a report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price target for the company. Bank of America increased their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Wedbush boosted their target price on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. UBS Group initiated coverage on Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target for the company. Finally, Mizuho lifted their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Seven equities 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.