Formidable Asset Management LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Formidable Asset Management LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,047 shares of the company's stock, valued at approximately $457,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. North Star Asset Management Inc. raised its position in shares of Palantir Technologies by 33.3% in the fourth quarter. North Star Asset Management Inc. now owns 8,229 shares of the company's stock valued at $622,000 after buying an additional 2,054 shares in the last quarter. Cache Advisors LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $8,150,000. GF Fund Management CO. LTD. acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $20,178,000. University of Texas Texas AM Investment Management Co. raised its position in shares of Palantir Technologies by 19.8% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 1,415 shares of the company's stock valued at $107,000 after buying an additional 234 shares in the last quarter. Finally, Josh Arnold Investment Consultant LLC bought a new position in Palantir Technologies in the fourth quarter valued at approximately $1,842,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 0.8%

Shares of Palantir Technologies stock opened at $123.31 on Friday. Palantir Technologies Inc. has a twelve month low of $20.64 and a twelve month high of $133.49. The stock has a market cap of $289.21 billion, a price-to-earnings ratio of 649.03, a P/E/G ratio of 10.84 and a beta of 2.68. The company's fifty day moving average is $102.66 and its 200 day moving average is $87.81.

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 for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Palantir Technologies's revenue for the quarter was up 39.4% on a year-over-year basis. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Bank of America lifted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Morgan Stanley lifted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note 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 research note on Tuesday, May 6th. Finally, Mizuho lifted their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research note 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 company's stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and a consensus target price of $83.95.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Buckley sold 1,708 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $215,874.12. Following the sale, the insider now directly owns 34,468 shares in the company, valued at $4,356,410.52. This trade represents a 4.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,931,701 shares of company stock valued at $373,180,433 over the last 90 days. 9.23% of the stock is owned by insiders.

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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