Sunbelt Securities Inc. Raises Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Sunbelt Securities Inc. grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 3,111.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,951 shares of the company’s stock after purchasing an additional 60,991 shares during the period. Sunbelt Securities Inc.’s holdings in Palantir Technologies were worth $4,859,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Roxbury Financial LLC purchased a new stake in Palantir Technologies in the 4th quarter worth about $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $28,000. HighMark Wealth Management LLC raised its holdings in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the period. Sierra Ocean LLC bought a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $31,000. Finally, R Squared Ltd purchased a new position in Palantir Technologies during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the topic of several research analyst reports. Bank of America upped their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, May 6th. DA Davidson raised their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Northland Securities lifted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Finally, Loop Capital upped their target price on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.95.

Palantir Technologies Stock Up 1.4%

Shares of NASDAQ:PLTR opened at $122.29 on Friday. The firm has a 50 day moving average of $101.88 and a 200 day moving average of $87.09. The company has a market capitalization of $286.81 billion, a price-to-earnings ratio of 643.67, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 52 week low of $20.63 and a 52 week high of $133.49.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the previous year, the firm earned $0.08 EPS. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the sale, the insider now owns 702,786 shares in the company, valued at $64,958,509.98. The trade was a 4.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,931,701 shares of company stock valued at $373,180,433. Corporate insiders own 9.23% of the company’s stock.

About Palantir Technologies

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.