MJP Associates Inc. ADV Takes $358,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

MJP Associates Inc. ADV purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,740 shares of the company's stock, valued at approximately $358,000.

Other hedge funds have also made changes to their positions in the company. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $27,000. First PREMIER Bank purchased a new stake in Palantir Technologies during the 4th quarter worth $28,000. Wolff Wiese Magana LLC increased its holdings in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. HighMark Wealth Management LLC raised its position in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares during the period. Finally, Sierra Ocean LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. The trade was a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Heather A. Planishek purchased 10,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were bought at an average price of $116.14 per share, for a total transaction of $1,161,400.00. Following the completion of the acquisition, the insider now owns 58,006 shares in the company, valued at $6,736,816.84. This represents a 20.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 2,964,290 shares of company stock worth $250,504,866. Insiders own 12.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PLTR. Cantor Fitzgerald increased their target price on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Loop Capital lifted their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, DA Davidson lifted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Trading Down 1.6%

NASDAQ:PLTR traded down $2.06 during midday trading on Thursday, hitting $128.12. 69,303,580 shares of the stock were exchanged, compared to its average volume of 76,579,863. The company has a market capitalization of $300.49 billion, a price-to-earnings ratio of 674.35, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a one year low of $20.63 and a one year high of $133.49. The business has a 50-day moving average price of $96.65 and a two-hundred day moving average price of $83.69.

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

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.