Sunbelt Securities Inc. Has $4.86 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Sunbelt Securities Inc. lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3,111.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,951 shares of the company's stock after acquiring 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 also recently made changes to their positions in the business. Fourth Dimension Wealth LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $58,000. Vise Technologies Inc. lifted its stake in Palantir Technologies by 41.8% in the fourth quarter. Vise Technologies Inc. now owns 28,584 shares of the company's stock worth $2,162,000 after purchasing an additional 8,427 shares during the last quarter. Retirement Planning Group LLC increased its position in shares of Palantir Technologies by 0.8% during the fourth quarter. Retirement Planning Group LLC now owns 21,495 shares of the company's stock worth $1,626,000 after acquiring an additional 168 shares during the period. Pinnacle Wealth Management LLC grew its holdings in Palantir Technologies by 0.6% in the fourth quarter. Pinnacle Wealth Management LLC now owns 67,343 shares of the company's stock worth $5,093,000 after purchasing an additional 390 shares during the last quarter. Finally, Blue Fin Capital Inc. purchased a new position in Palantir Technologies in the fourth quarter worth $209,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Mizuho lifted their target price on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 6th. Finally, DA Davidson boosted their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Trading Down 0.5%

NASDAQ PLTR traded down $0.61 during trading on Tuesday, reaching $122.70. The company's stock had a trading volume of 38,906,858 shares, compared to its average volume of 77,736,884. The firm has a 50 day moving average price of $103.41 and a 200 day moving average price of $88.49. Palantir Technologies Inc. has a 12 month low of $20.64 and a 12 month high of $133.49. The firm has a market capitalization of $287.77 billion, a price-to-earnings ratio of 652.93, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The firm 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 was up 39.4% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company'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 value of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company's stock, valued at $48,988. This represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares in the company, valued at approximately $33,382,558.80. The trade was a 19.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,901,701 shares of company stock worth $370,407,533 over the last quarter. Insiders own 9.23% of the company's stock.

Palantir Technologies Company 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.