Saxony Capital Management LLC Buys Shares of 2,775 Palantir Technologies Inc. (NASDAQ:PLTR)

Saxony Capital Management LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,775 shares of the company’s stock, valued at approximately $210,000.

Other large investors also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its position in Palantir Technologies by 20.9% during the second quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after acquiring an additional 9,109 shares during the period. ProShare Advisors LLC grew its position in Palantir Technologies by 14.9% in the 2nd quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after purchasing an additional 1,702 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Palantir Technologies by 20.3% during the 2nd quarter. EP Wealth Advisors LLC now owns 17,132 shares of the company’s stock worth $434,000 after purchasing an additional 2,896 shares during the period. Truist Financial Corp increased its holdings in shares of Palantir Technologies by 21.5% during the 2nd quarter. Truist Financial Corp now owns 449,356 shares of the company’s stock worth $11,382,000 after purchasing an additional 79,618 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Palantir Technologies by 25.2% during the second quarter. Cetera Investment Advisers now owns 707,674 shares of the company’s stock valued at $17,925,000 after buying an additional 142,411 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLTR shares. Northland Securities boosted their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Robert W. Baird began coverage on Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective on the stock. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. DA Davidson raised their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $44.61.

Palantir Technologies Stock Up 1.8 %

Shares of NASDAQ:PLTR opened at $81.22 on Friday. The firm has a market cap of $185.02 billion, a P/E ratio of 406.12, a P/E/G ratio of 7.29 and a beta of 2.82. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The company’s 50-day moving average price is $73.34 and its two-hundred day moving average price is $50.31.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the completion of the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at $28,077,819.76. The trade was a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is currently owned by 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.