JTC Employer Solutions Trustee Ltd Grows Position in Palantir Technologies Inc. (NASDAQ:PLTR)

JTC Employer Solutions Trustee Ltd grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 224.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,748 shares of the company’s stock after buying an additional 6,748 shares during the period. JTC Employer Solutions Trustee Ltd’s holdings in Palantir Technologies were worth $751,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the third quarter valued at $25,000. Prestige Wealth Management Group LLC boosted its holdings in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. Kings Path Partners LLC acquired a new position in Palantir Technologies in the fourth quarter valued at $76,000. Creekmur Asset Management LLC boosted its holdings in Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE boosted its holdings in Palantir Technologies by 47.5% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock valued at $44,000 after acquiring an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

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 transaction of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the sale, the insider now owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. This represents a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 in the last three months. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded down $2.97 on Monday, reaching $64.29. 37,729,632 shares of the company traded hands, compared to its average volume of 76,735,766. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The company’s 50 day moving average is $68.93 and its 200-day moving average is $45.98. The stock has a market capitalization of $146.45 billion, a PE ratio of 321.47, a P/E/G ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results 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. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the previous year, the business earned $0.03 EPS. The company’s revenue was up 30.0% on a year-over-year basis. As a group, analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PLTR shares. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Bank of America boosted their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Morgan Stanley restated an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a research note on Monday, January 6th. DA Davidson boosted their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $42.12.

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.