Connective Portfolio Management LLC Buys Shares of 5,020 Palantir Technologies Inc. (NASDAQ:PLTR)

Connective Portfolio Management LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,020 shares of the company’s stock, valued at approximately $380,000.

A number of other large investors have also made changes to their positions in PLTR. Wolff Wiese Magana LLC grew its stake in Palantir Technologies by 230.4% during 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 during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the third quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. PSI Advisors LLC lifted its holdings in shares of Palantir Technologies by 99.7% during the fourth quarter. PSI Advisors LLC now owns 795 shares of the company’s stock worth $60,000 after purchasing an additional 397 shares during the period. Finally, Kings Path Partners LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $76,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $68.14 on Thursday. The stock has a market capitalization of $155.22 billion, a PE ratio of 340.72, a P/E/G ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The company has a fifty day moving average of $69.70 and a two-hundred day moving average of $46.54.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share 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 firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the company posted $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. Research analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on PLTR shares. Bank of America raised their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. UBS Group initiated coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, DA Davidson upped their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $42.12.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at $42,002.40. The trade was a 99.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, 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 23,642,189 shares of company stock valued at $1,444,232,453 over the last 90 days. 12.93% of the stock is currently owned by corporate 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.