Floyd Financial Group LLC Makes New $1.39 Million Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Floyd Financial Group LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,418 shares of the company’s stock, valued at approximately $1,393,000. Palantir Technologies accounts for 1.1% of Floyd Financial Group LLC’s investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares during the period. FMR LLC grew its holdings in Palantir Technologies by 8.8% during the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake 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 valued at $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research note on Thursday, November 7th. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. UBS Group began coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock. DA Davidson lifted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.12.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $65.91 on Wednesday. The stock has a market cap of $150.14 billion, a price-to-earnings ratio of 329.57, a PEG ratio of 10.18 and a beta of 2.82. The firm’s 50-day moving average is $69.70 and its two-hundred day moving average is $46.54. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data 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. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the business posted $0.03 EPS. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. On average, equities analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Corporate insiders own 12.93% of the company’s stock.

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.