Blue Sky Capital Consultants Group Inc. Purchases Shares of 124,030 Palantir Technologies Inc. (NASDAQ:PLTR)

Blue Sky Capital Consultants Group Inc. acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 124,030 shares of the company's stock, valued at approximately $9,380,000. Palantir Technologies comprises 5.6% of Blue Sky Capital Consultants Group Inc.'s holdings, making the stock its 5th largest position.

A number of other institutional investors have also modified their holdings of the stock. Continuum Advisory LLC lifted its stake in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after purchasing an additional 98 shares in the last quarter. Heritage Wealth Management Inc. CA grew its position in shares of Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after purchasing an additional 111 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company's stock valued at $38,000 after purchasing an additional 114 shares during the last quarter. Westover Capital Advisors LLC increased its holdings in shares of Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock valued at $554,000 after purchasing an additional 130 shares during the last quarter. 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 buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 39,825 shares of the firm'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 $5,016,755.25. Following the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at $810,271,540.26. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,931,701 shares of company stock worth $373,180,433. Corporate insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PLTR shares. Royal Bank of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Morgan Stanley raised their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Jefferies Financial Group increased their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Finally, UBS Group lifted their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $83.95.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $123.31 on Friday. Palantir Technologies Inc. has a fifty-two week low of $20.64 and a fifty-two week high of $133.49. The company has a 50 day moving average price of $102.66 and a 200 day moving average price of $87.59. The stock has a market capitalization of $289.21 billion, a P/E ratio of 649.03, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

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

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.

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