CMG Global Holdings LLC Invests $200,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

CMG Global Holdings LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,605 shares of the company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. Diversify Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $876,000. State of Alaska Department of Revenue increased its holdings in shares of Palantir Technologies by 22.9% during 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 purchasing an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Palantir Technologies by 19.2% in 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 period. Finally, Tyler Stone Wealth Management boosted its holdings in Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after buying an additional 99,921 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PLTR shares. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Wedbush raised their price objective on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Mizuho upped their target price on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Northland Securities upped their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.61.

Insider Buying and Selling at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,181,807 shares of company stock worth $1,288,448,522 in the last ninety days. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $81.22 on Friday. The stock’s fifty day moving average is $73.34 and its two-hundred day moving average is $50.31. The firm has a market capitalization of $185.02 billion, a P/E ratio of 406.12, a price-to-earnings-growth ratio of 7.29 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.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $705.11 million. During the same quarter in the previous year, the company posted $0.03 EPS. The company’s revenue was up 30.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.