Smith Thornton Advisors LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Smith Thornton Advisors LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, HoldingsChannel reports. The firm acquired 4,350 shares of the company’s stock, valued at approximately $329,000.

A number of other large investors have also modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC boosted its position in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies in the second quarter worth about $30,000. Finally, Ashburton Jersey Ltd acquired a new stake in Palantir Technologies during the second quarter valued at approximately $36,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PLTR shares. Bank of America boosted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. DA Davidson lifted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Robert W. Baird initiated coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. Mizuho raised their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Finally, Northland Securities boosted their price objective on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.12.

Palantir Technologies Trading Up 3.4 %

Shares of NASDAQ PLTR opened at $68.14 on Thursday. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The firm’s 50-day moving average is $69.70 and its 200-day moving average is $46.54. The firm has a market capitalization of $155.22 billion, a PE ratio of 340.72, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

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 firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction 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 $13,996,000.59. This represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now owns 100,923 shares in the company, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is currently owned by company insiders.

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.