Old North State Wealth Management LLC Purchases Shares of 2,860 Palantir Technologies Inc. (NASDAQ:PLTR)

Old North State Wealth Management LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,860 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Czech National Bank acquired a new position in Palantir Technologies in the third quarter valued at approximately $15,261,000. GAMMA Investing LLC boosted its stake in Palantir Technologies by 83.9% during the third quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock worth $213,000 after acquiring an additional 2,607 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in Palantir Technologies in the third quarter worth $209,000. Diversified Trust Co raised its holdings in shares of Palantir Technologies by 172.7% during the third quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock valued at $802,000 after purchasing an additional 13,652 shares during the period. Finally, Smith Anglin Financial LLC bought a new position in shares of Palantir Technologies during the 3rd quarter worth about $273,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the company’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 transaction, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. This trade represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $103.83 on Wednesday. Palantir Technologies Inc. has a 1 year low of $16.48 and a 1 year high of $106.91. The company’s fifty day simple moving average is $74.09 and its two-hundred day simple moving average is $51.39. The stock has a market capitalization of $236.53 billion, a price-to-earnings ratio of 519.18, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the company earned $0.03 EPS. The firm’s revenue was up 30.0% compared to the same quarter last year. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PLTR shares. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $95.00 in a research note on Tuesday. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. DA Davidson boosted their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $64.89.

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.