Successful Portfolios LLC Invests $257,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Successful Portfolios LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, HoldingsChannel reports. The fund purchased 3,394 shares of the company’s stock, valued at approximately $257,000.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake 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 in the last quarter. State of Alaska Department of Revenue lifted its position in Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Tyler Stone Wealth Management increased its holdings in shares of Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after purchasing an additional 99,921 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Palantir Technologies in the third quarter worth $639,000. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PLTR shares. Robert W. Baird assumed coverage on Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective for the company. Bank of America lifted their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Wedbush boosted their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.78.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $71.77 on Monday. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80. The company’s fifty day moving average price is $70.49 and its 200-day moving average price is $47.32. The company has a market capitalization of $163.49 billion, a price-to-earnings ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $705.11 million. During the same period in the previous year, the business earned $0.03 earnings per share. The business’s revenue was up 30.0% on a year-over-year basis. Equities research analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, 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 transaction, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the sale, the director now directly owns 130,250 shares in the company, valued at $6,576,322.50. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock worth $1,444,232,453 in the last three months. 12.93% of the stock is owned by company insiders.

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.