Murphy Middleton Hinkle & Parker Inc. Has $330,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Murphy Middleton Hinkle & Parker Inc. lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,905 shares of the company’s stock after acquiring an additional 215 shares during the period. Murphy Middleton Hinkle & Parker Inc.’s holdings in Palantir Technologies were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Continuum Advisory LLC lifted its stake in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after buying an additional 98 shares during the period. Heritage Wealth Management Inc. CA increased its stake in shares of Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares in the last quarter. True Wealth Design LLC increased its stake in shares of Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after acquiring an additional 114 shares in the last quarter. Gemmer Asset Management LLC lifted its position in shares of Palantir Technologies by 1.6% during the 1st quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company’s stock valued at $639,000 after acquiring an additional 119 shares during the period. Finally, Westover Capital Advisors LLC boosted its stake in Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after acquiring an additional 130 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $132.81 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28. The firm’s 50-day simple moving average is $111.88 and its 200 day simple moving average is $93.33. The stock has a market cap of $313.42 billion, a PE ratio of 699.04, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Eric H. Woersching sold 17,000 shares of Palantir Technologies stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $129.29, for a total value of $2,197,930.00. Following the completion of the sale, the director now owns 12,562 shares of the company’s stock, valued at approximately $1,624,140.98. This trade represents a 57.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $51,545.44. This trade represents a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,661,925 shares of company stock worth $268,580,958 over the last three months. 9.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Cantor Fitzgerald raised their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. DA Davidson increased their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $83.95.

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.