Ameriflex Group Inc. Invests $1.38 Million in Palantir Technologies Inc. (NASDAQ:PLTR)

Ameriflex Group Inc. bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,723 shares of the company's stock, valued at approximately $1,379,000.

Other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC lifted its position in Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after purchasing an additional 98 shares during the period. Heritage Wealth Management Inc. CA lifted its position in Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after purchasing an additional 111 shares during the period. True Wealth Design LLC lifted its position in Palantir Technologies by 29.3% during the fourth quarter. True Wealth Design LLC now owns 503 shares of the company's stock worth $38,000 after purchasing an additional 114 shares during the period. Westover Capital Advisors LLC lifted its position in Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock worth $554,000 after purchasing an additional 130 shares during the period. Finally, Tritonpoint Wealth LLC lifted its position in Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock worth $537,000 after purchasing an additional 132 shares during the period. Institutional investors own 45.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PLTR shares. UBS Group upped their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Bank of America increased their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Mizuho increased their target price on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Jefferies Financial Group increased their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $83.95.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 39,825 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $5,016,755.25. Following the completion of the sale, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $810,271,540.26. This represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares of the company's stock, valued at approximately $48,988. This trade represents a 99.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,901,701 shares of company stock valued at $370,407,533. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Trading Down 0.1%

NASDAQ:PLTR traded down $0.09 on Thursday, reaching $123.67. 43,082,320 shares of the stock traded hands, compared to its average volume of 77,926,372. The firm has a market capitalization of $290.04 billion, a price-to-earnings ratio of 651.00, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The company's 50 day moving average is $104.78 and its 200-day moving average is $88.97. Palantir Technologies Inc. has a 1-year low of $20.64 and a 1-year high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company's revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.