Burney Co. Increases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Burney Co. boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 18.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,885 shares of the company’s stock after buying an additional 1,841 shares during the quarter. Burney Co.’s holdings in Palantir Technologies were worth $899,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PLTR. WINTON GROUP Ltd purchased a new stake in shares of Palantir Technologies in the second quarter valued at about $241,000. Dimensional Fund Advisors LP increased its stake in Palantir Technologies by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after buying an additional 278,544 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Palantir Technologies during the 2nd quarter worth approximately $350,000. Axxcess Wealth Management LLC boosted its stake in shares of Palantir Technologies by 264.0% in the 2nd quarter. Axxcess Wealth Management LLC now owns 61,970 shares of the company’s stock worth $1,570,000 after buying an additional 44,943 shares during the last quarter. Finally, Wealth Alliance bought a new position in shares of Palantir Technologies in the second quarter valued at approximately $247,000. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Northland Securities lifted their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Morgan Stanley reissued an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, UBS Group began coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $42.12.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This represents a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $69.34 on Friday. The company has a market cap of $157.95 billion, a price-to-earnings ratio of 346.70, a PEG ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80. The firm has a fifty day moving average price of $69.95 and a two-hundred day moving average price of $46.69.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates 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 last year, the company earned $0.03 earnings per share. Equities research analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

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.