Sovereign Financial Group Inc. Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Sovereign Financial Group Inc. acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, Holdings Channel.com reports. The firm acquired 3,115 shares of the company’s stock, valued at approximately $236,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC bought a new position in shares of Palantir Technologies in the 2nd quarter worth about $290,000. WINTON GROUP Ltd acquired a new stake in Palantir Technologies during the second quarter worth about $241,000. Dimensional Fund Advisors LP lifted its holdings in Palantir Technologies by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after acquiring an additional 278,544 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new position in Palantir Technologies in the second quarter valued at approximately $242,000. Finally, WealthPLAN Partners LLC bought a new position in shares of Palantir Technologies during the second quarter valued at approximately $319,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Bank of America upped 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. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. Morgan Stanley restated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $42.12.

Palantir Technologies Stock Up 3.4 %

NASDAQ:PLTR opened at $68.14 on Thursday. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The firm has a market cap of $155.22 billion, a P/E ratio of 340.72, a PEG ratio of 10.18 and a beta of 2.82. The business’s 50-day moving average price is $69.70 and its 200 day moving average price is $46.54.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. Sell-side analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. Insiders own 12.93% of the company’s stock.

Palantir Technologies 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.