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

Ameriflex Group Inc. bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to the company in its most recent 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.

Several other hedge funds and other institutional investors have also bought and sold shares of PLTR. Tallon Kerry Patrick acquired a new position in Palantir Technologies in the fourth quarter valued at $289,000. Secure Asset Management LLC acquired a new position in Palantir Technologies in the fourth quarter valued at $511,000. Apeiron RIA LLC acquired a new position in shares of Palantir Technologies during the fourth quarter valued at about $244,000. Cornerstone Wealth Management LLC raised its holdings in shares of Palantir Technologies by 161.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 7,327 shares of the company's stock valued at $554,000 after purchasing an additional 19,227 shares during the period. Finally, RFG Advisory LLC raised its holdings in shares of Palantir Technologies by 45.9% during the fourth quarter. RFG Advisory LLC now owns 10,365 shares of the company's stock valued at $784,000 after purchasing an additional 3,259 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 3,936 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $495,817.92. Following the completion of the sale, the insider now directly owns 363,755 shares of the company's stock, valued at $45,822,217.35. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,901,701 shares of company stock valued at $370,407,533. Corporate insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Morgan Stanley upped their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, UBS Group upped their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $0.08 during midday trading on Tuesday, hitting $123.39. 86,177,009 shares of the company's stock were exchanged, compared to its average volume of 77,906,130. The stock has a 50 day moving average price of $103.41 and a 200-day moving average price of $88.49. The company has a market cap of $289.39 billion, a PE ratio of 649.46, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 12 month low of $20.64 and a 12 month high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) 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 business had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period in the prior year, the firm posted $0.08 EPS. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. On average, analysts anticipate 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.